In 2017 we acted for Computcenter plc on the sale of this 350,000 sq ft warehouse in Braintree, Essex. The property was let to RD Trading Ltd who used it for the storage and disassembly of computer equipment.
The investment was openly marketed and following a competitive bidding process a sale was agreed with a major UK pension fund.
The sale price of £14,450,000 reflected a 6.48% net initial yield.
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In 2015 we acted for a private investor on the sale of this multi-let office building. The property comprised 7,896 sq ft of newly refurbished offices in a prime Clerkenwell office location.
The practice was instructed during the refurbishment of the property and advised on the optimum rental level on leasebacks of the 3rd and 4th floors to the freeholder’s group businesses.
On completion of the refurbishment we advised the owner to adopt a targeted marketing strategy which we executed to achieve a sale to a UK Family Office.
The sale price of £8.875 million reflected a 3.78% net initial yield and £1,187 per sq ft, a new high in the Clerkenwell investment market.
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In 2014 we acted for The Marchday Group on the sale of this multi-let office and industrial facility. The property provided 1,430,000 sq ft of accommodation on 73.5 acres and had planning to develop 1200 homes on part of the site.
Prior to marketing the property we carried out a full review of the supporting information available to support a sale. We advised that additional advice was required on the land condition, demolition and services separation to support the valuation of the development land. We advised on the consultant appointments and ensured that reporting addressed all the areas required.
Due to the complexity of the asset a detailed brochure was produced and a targeted marketing campaign with direct presentation carried out to ensure a full understanding of the asset was conveyed to potential purchasers.
A private treaty sale was agreed with a UK property company and we provided Marchday with ongoing negotiation advice during legal and property due diligence to achieve a successful sale.
The sale price of £23,450,000 reflected a 10% net initial yield.
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In 2013 we acted for Tesco Pension Trustees on the acquisition of this multi-let industrial estate in Enfield, Greater London. The property was well let to tenants including G4S and Yodel.
The client was a new entrant and the Martinbridge Estate which had been on the market for some time at a higher price was identified as an ideal first purchase. We provided a full purchase due diligence service and advised on price adjustments warranted by property issues and information deficiencies.
The purchase price of £19.15 million reflected a 7.95% net initial yield.
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In 2012 we acted for RREEF Spezial Invest GmbH on the acquisition of this prime retail block on Fargate, Sheffield. The property was let on long leases to tenants including HSBC and H&M Hennes.
The purchase price of £22 million reflected a 5.91% net initial yield.
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We advised RREEF UK Industrial Property Fund on the land acquisition and subsequent development of Thurrock Trade Park. The completed development provides 106,000 sq ft of warehousing in 22 units.
Since completion we have provided asset management advice on the letting of the estate, a role we continue for new owner, BlackRock UK Property Fund.
We advised on the purchase of 5-17 Swan Lane (2001) and subsequent purchase of 19 Swan Lane (2006) and 21-23 Swan Lane (2010). Post purchase we provided asset management advice on altering the tenant mix and helped attract new tenants, The White Company, JoJo Maman Bébé and Sweaty Betty.
We have undertaken all rent reviews and lease renewals and helped move the rental tone from £90 Zone A to £155 Zone A.
We manage this eye-catching building on behalf of the very substantial Chinese retailer Bosideng. It is located overlooking Oxford Street in the heart of London’s West End. The multi–use building has a relatively small floor area, but the services installation means that it has most of the complexities of a much larger property.
As well as prime West End retail space, the building is used for offices, and high quality residential. It is fully air-conditioned, with heating provided by means of heat pumps. Controlled by a Trend building management system, all building services are fully integrated including emergency power generation and photo voltaic panels. The outside of the building features attractive ‘living walls’.
We were appointed to manage the entire building 2 years after its completion in 2012. Our all-encompassing brief involves a full property management service and has covered the following areas
With all management systems now in place the building is now set to be fully let.
The Riverside Estate is a 120 acre industrial/distribution estate, situated just off the M25 in Thurrock , Essex. We have been running the estate management company ‘RESL’ since 2004. RESL aims to improve the environment and services on the estate for the benefit of the property owners and occupiers.
We are responsible for all the administrative and compliance functions of RESL as well the management of the service which it provides to the estate occupiers.
The company owns some 25 acres of land on the estate including a 4 acre private railway siding and environmentally sensitive ditches and floodpark. The history of the estate means that the legal title is particularly complex.
Over the years we have dealt with a number of challenging projects including the compulsory purchase of part of the estate for HS1, the replacement of a kilometre of private foul drainage and the construction of a major sewage pumping station.
On-going projects include the replacement of a culvert under a busy road, seeking to maximise income from the sidings land and a large scale landscape upgrade.
Since 2006 we have been managing a national portfolio of properties mainly in leisure uses but including warehousing, retail and offices. The portfolio originally comprised 45 properties located throughout the UK deemed to be onerous leaseholds, with lease terms ranging between 2 and 200 years. The total floor area originally exceeded half a million square feet.
Acting for a joint venture partnership formed by two major private property companies, we are charged with asset managing the portfolio whilst also carrying out all day to day management and accounting functions for the diverse portfolio.
The nature and outcome of the instruction changed considerably with the economic downturn in 2008, nevertheless, in the interim, numerous surrender deals have been agreed, while maximising income opportunities and pro-actively managing outgoings.
