Acquired on behalf of Columbia Threadneedle - a prime leisure investment let to Buzz Bingo Ltd and The Gym Group Ltd. FRI Lease to Buzz Bingo Ltd with an unexpired term of 16.5 years, benefiting from annual RPI uplifts, collared and capped at 1% and 4%. The property extends 42,816 sq ft (3,978 sq m) on a 3.51 acre (1.42 hectares) site and benefits from a strong alternative use underwrite.
Lewis & Partners advised a private property company on the acquisition of Heron Industrial Estate in Reading, from Threadneedle Pension Fund. The property was multi let, with pricing reflecting circa £6M and 8% NIY.
Lewis & Partners advised a private investor on the disposal of a Selco trade counter investment to an institutional purchaser. The property was newly built and provided a brand new 15 year lease to Selco. The acheived price was £5M, reflecting a net initial yield of 6%.
Acquisition on behalf of Tri -7, approximately 200,000 sq. ft shopping centre from Columbia Threadneedle. Freehold site of 1.85 acres (0.75 hectares) with WAULT of 6.1 years anchored by Matalan, Foot Asylum and Poundland with significant redevelopment potential. Unconditional with planning recently achieved for a mixed-use student/BTR development.
Acquired by the SoCo for future co-living redevelopment.
Lewis & Partners have advised a private investor on the acquisition of a retail investment on Exeter High Street. The property was multi let to Lloyds Bank, Clarks and Vision Express and pricing reflected £5M and 13% NIY.
Lewis & Partners advised KFIM on the funding and structure of this sale and leaseback, for circa £18M, to David Lloyd Leisure Limited, subject to a new 30 year term, with reviews to RPI, cap and collared.
Sold on behalf of Galliard Homes to a private high net worth investor. The property is multi-let producing a current income of £1,086,415 pa. The site was originally developed by Galliard as residential, surrounding the T-shape office building in the centre of the site. The T-building is let to tenants including Friends of the Earth and Spitfire. Subsequently, the vacant offices within the T-building were converted to residential under permitted development.
