Commercial Deals
NATIONAL INVESTMENT
Koito, Kingswood Road, Droitwich Spa WR9
Sold for £11.89m (6.5% NIY)
Long-income HQ manufacturing unit let to the 5A1 covenant of Koito for a further 10 years term certain.
Industrial Investment
NATIONAL INVESTMENT
North Quay, Newhaven BN9
Sold for £9.9m (7.25% NIY)
Multi-let to 12 tenants providing 11.3 years to expiries with RPI/CPI linked income.
Wharfside Storage and Distribution Investment
NATIONAL INVESTMENT
Nidderdale House, 4–16 Cambridge Road and 7 Oxford Street, Harrogate HG1
Sold for £5.545m (7.27% NIY)
Prime freehold convenience retail investment located in the historic spa town of Harrogate.
Retail Investment
CITY INVESTMENT
9 Prescot Street, London E1
98,000 sq ft
Sold for £53.85m
(4.45% NIY, Cap Val £555 psf) on behalf of Derwent London Plc
and LaSalle Investment Management.
Iconic freehold Art Deco building, originally constructed in 1938 for owner occupation by the Co-operative Bank.
Office Investment
CITY INVESTMENT
Palace House, Cathedral Street, London SE1
Sold for £48.8m
(5.00% NIY, Cap Val £1,063 psf) on behalf of Schroders.
Freehold property with Caffé Nero
on the ground floor and office accommodation above fully let to Kaplan Estates until 2033.
Office and Retail Investment
CITY INVESTMENT
81–82 Gracechurch Street, London EC3
Sold for £15.25m
(5.51% NIY, Cap Val £785 psf) on behalf of LaSalle Investment Management.
Grade II Listed long leasehold building providing office, retail and ancillary accommodation arranged over basement, ground and four upper floors.
Office and Retail Investment
Auction
140–142 Camden High Street, London NW1
Sold for circa £6m (4.33% NIY)
Prominent high street bank and four self-contained flats with potential to extend the upper floors.
Mixed Use Investment
Auction
The Bottle of Sack, 2 Birmingham Road, Sutton Coldfield B72
Sold for £1.66m (5.67% NIY)
Prominent freehold bar/restaurant investment let to JD Wetherspoon Plc until 2035.
Leisure Investment
Auction
B&M Retail Ltd, Church Street, Shildon, County Durham DL4
Sold for £1.07m (6.18% NIY)
Modern freehold retail investment let to B&M Retail Limited until 2031 at £70,000 p.a. with RPI linked reviews.
Retail Warehouse
WEST END OFFICE LEASING
31 St. Petersburgh Place, London W2
Disposal of 23,000 sq ft
Let to QWR2 Ltd on a new lease to expire 2024, on behalf of Capreon.
WEST END OFFICE LEASING
Cranmer House, Kennington Park SW9
Disposal of 3,500 sq ft
Let to Bitpesa on behalf of Workspace.
WEST END OFFICE LEASING
55 Strand, London WC2
Disposal of 3,200 sq ft
Let to You Travel on behalf of Legal & General Investment Management, as part of LGIM’s Capsule initiative, which combines the benefits of traditional leasing with the convenience of serviced offices.
CITY OFFICE LEASING
Senator House, London EC4
Disposal of 100,000 sq ft
Let to Quilter on behalf of Legal & General Investment Management.
CITY OFFICE LEASING
ARNOLD, London EC2
Disposal of 40,000 sq ft
Let to Fora Spaces on behalf of The Property Trust Group.
CITY OFFICE LEASING
100 Liverpool Street, London EC2
Acquisition of 40,000 sq ft
On behalf of Peel Hunt LLP.