investment - purchases

v3 - Investment - Purchases

V3, Basingstoke

Bray Fox Smith are delighted to have acted on behalf of Skelton Group, the private real estate investment and development company, in acquiring V3 on Viables Business Park, Basingstoke from clients of Knight Frank Investment Management.

V3 is a Grade A multi let office measuring 73,828 sqft.

The building is let to let to multiple tenants including Highways England, Capita, Axians Networks and Adidas, plus there is a vacant suite of 10,081 sqft which is available to let.

churchill house pic - Investment - Purchases

Churchill House, Slough

Bray Fox Smith are delighted to announce that we have exchanged contracts to purchase Churchill House in Slough on behalf of Diamond Corporation for £3.95 million.

The property was acquired with vacant possession and measures 23,734 sqft. The intention is to convert into residential use.

aquila - Investment - Purchases

Aquilla House, Redhill

Bray Fox Smith are delighted to announce that we have completed the acquisition of a vacant 27,421 sqft office building in central Redhill on behalf of Diamond Group.

The building benefits from planning consent to convert to residential use.

reading international 1 - Investment - Purchases

Reading, Reading International

Acquisition on behalf of Tristan Capital and Alchemy Asset Management from DWS Group for approximately £120 million.

Reading International is one of the largest single office buildings in the South East, benefiting from great prominence fronting the M4 motorway at Junction 11, and is less than 3 miles from Reading town centre.

It is let to tenants including Investec, Verizon, Aspentech and Symantec as well as having a Busy Bees day nursery on site and a large detached restaurant block known as The Dot Cafe. The building provides 376,587 sq ft of office and storage accommodation, in addition to a gymnasium, café facilities, amenity building and crèche. The property has a WAULT of 9.9 years to expiries, 8.5 years to breaks. There is approximately 175,000 sq ft of vacant accommodation which will form part of the refurbishment programme.

waltham cross - Investment - Purchases

Waltham Cross, Queensgate

Multi-let town centre office campus acquired on behalf of Herts Living Limited for £13,700,000 from Columbia Threadneedle.

The property comprises three modern office buildings totalling 58,958 sq ft. The property is multi-let to 6 tenants at an average rent of £16.11 per sq ft overall. The property has a WAULT of 5.52 years to breaks and 6.35 years to expiries.

harrow one six - Investment - Purchases

Harrow, One Six Six College Road

Prime, multi-let town centre office building acquired on behalf of CLS Holdings for £13,780,000 from Columbia Threadneedle.

The property comprises a high quality modern office building totalling 34,655 sq ft. The property is multi-let to 8 tenants at an average rent of £30.01 per sq ft overall.

bourne house - Investment - Purchases

Staines, Bourne House

Grade A office building acquired on behalf of Polimeks for £11,830,000 from API.

Bourne House is situated at the southern end of Staines Bridge on The Causeway (A308), close to the roundabout junction with Chertsey Lane (A320) and enjoys a frontage to the River Thames. The building is let to IFS Ltd for a term of 10 years. The passing rent equates to £28.75 per sq ft.

gipping - Investment - Purchases

Gipping Way, Stowmarket

On behalf of Columbia Threadneedle BFS acquired this 16.44 acre town centre opportunity consisting of a 192,003 sqft production and warehouse facility and 7.36 acres of development land. The industrial unit was single let to Bosch Lawn & Garden Ltd providing a WAULT of 5.8 years and a rental income of £615,000, equating to £3.20psf overall.

The property occupies a highly visible and prominent site and is less than 0.5 miles away from Stowmarket Railway Station. Stowmarket’s main shopping and retail streets run parallel to Gipping Way just 100m to the west.

Saunderton - Investment - Purchases

Clare Foundation, Saunderton

BFS acted for Martin Group and MCR in the purchase of this income producing office building in Saunderton, near to Princes Risborough. The long term strategy is to develop this unit to residential but the purchasing parties are happy to sit on some income whilst they achieve planning. It was bought for £6,000,000.

Globe House - Investment - Purchases

Globe House, Clivemont Road, Maidenhead

30,949 sq ft office building arranged over basement, ground and first floor. Purchased on behalf of AEW UK from M&G for £7,090,000.

The property was let SDL Plc at a rent of £678,700 per annum on a lease expiring in June 2020. The building is situated on the edge of the town centre, less than half a mile from the main town centre amenities and benefits from a parking ratio of 1:234 sq ft.

metrobuilding purchases - Investment - Purchases

The Metro Building, Hammersmith

Acting on behalf of Rockspring we advised on the purchase of this prime office building from M&G for £62,000,000.

The Metro Building occupies a prominent position in the heart of Hammersmith, opposite Hammersmith Broadway, and comprises a high quality multi-let office extending to 108,841 sq ft over11 floors. The property is fully let to 13 office tenants with an average unexpired lease term of 6.9 years to lease expiries and 2.7 years to break dates. The total rental income of £3,872,840.50 per annum equates to a passing rent of £36.04 per sq ft overall.

atrium purchases - Investment - Purchases

The Atrium, 1 Harefield Road, Uxbridge

Acting on behalf of Blackrock we advised on the purchase of this prime office building from AVIVA for £55,900,000, reflecting a net initial yield of 5.70%.

The Atrium is a freehold, landmark office building located in the heart of Uxbridge town centre extending to 156,529 sq ft offering highly flexible floor plates suited to a range of requirements. In addition, the property benefits from a total of 381 secure basement car parking spaces, providing an excellent town centre car parking ratio of 1:370 sq ft.

The Atrium is let to five high-profile tenants providing a WAULT of 5.6 years to lease expiries and 4.3 years to breaks. The total passing rent equates to an average rent of only £24.94 per sq ft.

blagravest purchases - Investment - Purchases

33 Blagrave Street, Reading

Acting on behalf of AEW we advised on the off market purchase of this town centre office building from Aberdeen Property Investors for £4,500,000.

This prominent office building is situated 50 metres from Reading train station and the town centre’s main retail pitch is easily accessible by foot and includes a variety of shops and amenities. The building is arranged over ground and 4 upper floors totalling 21,677 sq ft sq ft, with 18 secure basement car parking spaces. The property is currently part vacant and part let and will undergo a full refurbishment by AEW to Grade A specification.

idmaidenhead purchases - Investment - Purchases

iD, Maidenhead

Acting on behalf of AEW we advised on the off market purchase of this fully refurbished, vacant office building from Mercer Real Estate.

iD comprises a back to frame refurbishment totalling 36,082 sq ft of Grade A office accommodation arranged over ground and 2 upper floors. The scheme benefits from 143 car parking spaces reflecting a car parking ratio of 1:251 sq ft.

newbury - Investment - Purchases

Newbury Business Park, Newbury

Office park comprising 5 office buildings totalling 137,103 sq ft. Purchased on behalf of Vengrove from Moorfield for £11,000,000.

The Park is multi let to 11 tenants with 20% vacancy and presents a unique repositiong opportunity.

kingsorchard purchases - Investment - Purchases

Kings Orchard, One Queen Street, Bristol

Acting on behalf of Aviva Investors we advised on the purchased this prime office building from IVG for £29,750,000, reflecting a net initial yield of 5.94%.

The 89,010 sq ft grade A office building, which overlooks Bristol’s Floating Harbour, is let to Bevan Bittan LLP on a 20 year lease with 12.25 years remaining, at a rent of £1,868,364 per annum. The building was extensively redeveloped and extended in 2007 and incorporates a staff restaurant, fitness suite and 24/7 concierge reception for Bevan Brittan staff and other occupiers. The building has been sublet in part to Close Asset Management Holdings, Parson Brinkerhoff Ltd, Chartwell Healthcare Ltd, Tribal Group PLC, Arista Insurance Ltd and FRP Advisory LLP.

majestic purchases - Investment - Purchases

Majestic House, High Street, Staines on Thames

Acting on behalf of Mercer Real Estate and Melford Capital Partners LLP we advised on the purchase of this prime, 2 acre, freehold town centre development site from REEFF UK.

Majestic House, located on the High Street in Staines, has planning consent for nearly 430,000 sq ft of residential, office, hotel and leisure use.

forestgate purchases - Investment - Purchases

1 Forest Gate, Tilgate Business Park, Crawley

Acting on behalf of Threadneedle we advised on the purchase of this office building from the LPA Receiver for a total consideration of £5,125,000 reflecting a net initial yield of 10.50%.

The property comprises a detached office building completed in 1993 and arranged over ground and two upper floors totalling approximately 25,069 sq ft. The building benefits from 126 car parking spaces giving a ratio of 1:198 sq ft. The property is let to KPMG LLP on a full repairing and insuring lease expiring 24th June 2018.

33 35coney purchases - Investment - Purchases

33-35 Coney Street, York

Two prime, high street retail units on Coney Street in York purchased on behalf of Fidelity Investments from JP Morgan Asset Management for £3,080,000.

The adjoining retail units are located on Coney Street, the prime pedestrianised street in York and are let to The Perfume Shop Ltd and Hotel Chocolat Stores Ltd. The total passing rent is £195,000 per annum.

avonmouth purchases - Investment - Purchases

Honda Car Storage Facility, Avonmouth

62 acre open storage site purchased on behalf of Canmoor and The Blackrock UK Property Fund, for £31,600,000 from The Crown Estate. The facility is let to Honda Motor Europe Limited on two leases expiring in February and March 2020, with the benefit of fixed annual rental increases of 3%.

Avonmouth has become one of the UKs prime distribution hubs with corporate occupiers including major retailers such as Asda, Sainsbury’s, Tesco, Co-op, John Lewis, Next and DSG together with major retail suppliers Constellation, Warburtons and Robert Wiseman Dairies. Other corporate occupiers alongside Honda include Royal Mail, Bunzl UK, Avon & Somerset Police Authority and Kuehne & Nagel.

huntercombe - Investment - Purchases

Huntercombe Park, Taplow

Purchase of 13-acre Development site for B1 use on behalf of Aberdeen Standard for £11,000,000.

6 acres of land were then sold off for residential development.

globeside - Investment - Purchases

Globeside Park, Marlow

100,000 sq ft office and industrial scheme purchased on behalf of Threadneedle for £26,000,000.

The multi let scheme comprises 3 office buildings and a light industrial unit on a site that extends to 9.45 acres and is located adjacent to Marlow railway station and the riverside town centre.

For further information please contact:

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