The transactions listed below are a selection of deals from throughout the UK recently added to EGi. EGi provides the market’s leading comparables database, fully researched and updated with more than 5,000 new results each month
SIGNIFICANT DEAL
Chosen by James Fairweather, head of industrial and logistics, Strutt & Parker
Units 1 & 2 Vickers Drive, Weybridge, KT13 0YU
- Size 87,000 sq ft
- Vendor Aberdeen Asset Management
- Purchaser Elmbridge Borough Council
- Price £13.21m
- Net initial yield 4.75%
Elmbridge Borough Council’s acquisition of the two logistics units, which total 87,000 sq ft, is indicative of its plan to become more financially resilient so that it is less dependent on central government for its funding. An important element of this plan is to invest in local income-producing commercial property, thereby increasing its overall revenue income.
By acquiring the properties, which are let to John Lewis and produce a passing rent of £700,000 per annum, a rental uplift in March 2018 and unexpired lease term of 6.65 years, the council has gained a strategically located investment that produces a secure income and has good growth prospects.
We are likely to see more transactions of this nature undertaken in 2017 as local authorities adopt this approach to both invest in industry and development in their local areas and produce revenue.
• Send significant deal suggestions to stacey.meadwell@estatesgazette.com
OFFICES
Laxford House, Cradlehall Business Park, Inverness IV2 5GH
- Size 3,821 sq ft (355m²)
- Date of deal 22/11/2016
- Rent £60,000 pa, 10-year lease
- Lessor J & L Rokeby
- Lessor’s agent Burns & Partners
- Lessee Scottish Ambulance Service
Suite D, 42 Quay Street, Newport PO30 5BA
- Size 800 sq ft (74m²)
- Date of deal 25/11/2016
- Rent £8,000 pa, 5-year lease, tenant break and rent review at 2.5 years
- Lessor’s agent Gully Howard
- Lessee Newcross Health
Open University Building, Baltic Business Quarter, Gateshead NE8 3DF
- Size 19,543 sq ft (1,816m²)
- Date of deal 01/12/2016
- Price £2m
- Vendor The Open University
- Vendor’s agent Lambert Smith Hampton
- Purchaser Gateshead Council
RETAIL
The British Oak, 77 Gooch Street North, Birmingham B5 6QU
- Size 1,066 sq ft (99m²)
- Date of deal 28/11/2016
- Rent £12,000 pa, 18-month lease
- Lessor’s agent Pennycuick Collins
- Lessor RJW Investments
- Lessee Colmore Tang Construction
35-36 Brentgovel Street, Bury St Edmonds IP33 1EA
- Size 3,731 sq ft (347m²)
- Date of deal 11/10/2016
- Rent £40,000 pa, 10-year lease, 5 year rent review
- Lessor Glasswells
- Lessor’s agent Barker Storey Matthews
- Lessee A-Plan Insurance
27 Eld Lane, Colchester CO1 1LS
- Size 2190 sq ft (203m²)
- Date of deal 15/11/2016
- Rent £24,000 pa, 10-year lease, break at year 5, 6 months rent free
- Lessor’s agent Fenn Wright
- Lessee Monica Restaurants
20 South Street, Romford RM1 1RA
- Size 1219 sq ft (113m²)
- Date of deal 15/09/2016
- Rent £30,000 pa, 10-year lease, tenant-only break at year 5, 1 month rent free
- Lessor’s agent Andrew Caplin Commercial
- Lessee Vapemate
INDUSTRIAL
Unit 4, Twenty-Seven Industrial Estate, Epsom Court, Leeds LS27 0LL
- Size 8,730 sq ft (811m²)
- Date of deal 03/12/2016
- Rent £48,000 pa, 10-year lease, 5 year rent review
- Lessor South Parade Developments
- Lessor’s agents Carter Towler, Dacres Commercial and Robert Austin & Co
- Lessee All Rounder Cricketer
Unit 17, Ashburton Park, Wheel Forge Way, Trafford Park, Manchester M17 1EH
- Size 8,559 sq ft (795m²)
- Date of deal 05/12/2016
- Rent £27,000 pa, 5 year lease
- Lessor MG Commercial
- Lessor’s agent Colliers International
- Lessee M&S Trading Manchester
Unit 2, Haydock Industrial Estate, Marlborough Way, Saint Helens WA11 9FT
- Size 27,182 sq ft (2,525m²)
- Date of deal 11/11/2016
- Rent £156,297 pa, 10 year lease, 5 year rent review, 5 year break, 6 months rent free
- Lessor Halo Investments
- Lessor’s agent B8 Real Estate
- Lessee’s agent FHP
- Lessee Falcon Panel Products
LEISURE
31-33 Long Row, Nottingham NG1 2DR
- Size 2,541 sq ft (236m²)
- Date of deal 15/11/2016
- Rent £170,000 pa, 20-year lease, 5 year rent reviews, 6 months rent free
- Lessor Tempophase
- Lessor’s agent FHP
- Lessee’s agent MMX Retail
- Lessee MOD Pizza
Unit 9, Omni Centre, Leith Walk, Edinburgh EH1 3BN
- Size 1,518 sq ft (141m²)
- Date of deal 15/11/2016
- Rent £50,000 pa, 10-year lease, 5 year rent review, 3 months rent free
- Lessor Aviva Investors Property Trust
- Lessor’s agents Ryden and Savills
- Lessee Coffee Republic
To submit your deals please e-mail deals@egi.co.uk or tweet @egideals
