We acquired adjoining grade II listed buildings from London Transport at a time when the market for offices was dire. A scheme was developed and following permission from the freeholder (The Grosvenor Estate) and listed planning consent, these were developed into high quality offices which were subsequently let to a government department.
This was a 1960's office building of approximately 150,000 sq. ft. part of which was let to a tenant on a short-term lease. The market for offices at that location was extremely poor and the vendor's agents were unable to dispose of the property. We were known to the vendors having previously purchased from them, and a deal was concluded on an unconditional basis. It was decided that a change of use was the most viable option and planning was obtained for a 320-room hotel.
An attractive 40,000 sq. ft. Art Deco industrial building which was the original production facility for OK Sauce. The vendors were keen to dispose of the property speedily due to various internal priorities. A shortlist of parties were approached and our offer was subsequently accepted. Despite a large number of legal issues we exchanged contracts within 7 days. The property is currently let and branded as 'The Factory'.
We have been very active in this area and purchased six buildings over a 3 month period. They all had large retail units (some vacant) on the lower floors and often with offices above. This particular building was purchased on a sub 5% yield and was let to Argos as a tenant on the ground floor with a variety of residential units on the uppers. A review was carried out on the Argos premises and the upper parts are refurbished and let.
We are involved in a variety of investment and development opportunities overseas. Our activites range from shopping centre investments to office and residential investments.