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.