Knight Frank Investment Management (KFIM) has completed the purchase of a Sainsbury’s distribution hub at Hams Hall, Birmingham, on behalf Korean investors, for £102m.
The 700,000 sq ft property was sold by IM Properties which bought it in 2008 for its Christian Vision fund, with Sainsbury’s signing a 25-year lease. It was built in 2002 and was owned by Sainsbury’s before the deal in 2008.
CBGA secured the property for IM Properties in 2008 for £70m, as part of a Sainsbury's sale and leaseback programme.
Related Articles: CoStar, Property Week
CBGA Robson LLP have recently been appointed to manage three buildings for Regus Property Partners.
The properties are located in Marlow, Teddington and Stokenchurch and total c. 80,000 sqft of office space. They form the initial phase of an investment strategy for Regus Property Partners to acquire freehold assets.
CBGA Robson provided advice on the pre-purchase due diligence and will continue to manage the assets in line with the business plan.
CBGA Robson's investment team have completed the sale and leaseback of an HQ office building in the heart of Clerkenwell.
We were instructed by a leading design and branding agency to conduct a discrete sale and leaseback of their freehold headquarters. The 8,200 sq ft office was reconstructed in 1987 and has been their home ever since. The sale and leaseback was transacted in October 2016 in defiance of the UK's decision to leave the EU.
We advised them on the structure of the leaseback to ensure they achieved the optimum balance of capital from the sale and flexibility for the occupational business. Having identified a shortlist of potential purchasers, we conducted an 'off market' sales process and concluded the sale with a purchaser who's investment strategy aligned well with the client's occupation.
We have been instructed by a retained client to acquire a London Office for owner occupation. The criteria for this requirement is as follows:
SIZE: Minimum of 15,000 sq ft – up to c. 30,000 sq ft
TYPE: Grade A / requires refurbishment / buildings that can be converted for office use
LOCATION: Zones 1 & 2
BUDGET: Up to £20m
TIMING: Vacant Possession of 15,000 sq ft required within 12 months
Please send any opportunities to firstname.lastname@example.org or email@example.com and for further information you can contact Chris Adams or James Brick on 0207 495 6838.
CBGA Robson were instructed by Square Metre Asset Management in respect of the acquisition of 4 mixed use portfolios (comprising over 4 million sq ft across 83 properties) over an 18 month period.
Our role included pre-purchase inspection and reports, forecasted cashflows, assistance with legal due diligence, facilities and property management, health and safety due diligence and subsequent assistance with the successful sale of the majority of the assets within a 2-3 year hold period.
The majority of the assets were sold as part of the Indigo Portfolio (January 2016) and the Omega Portfolio (March 2016).
Clock Towers Shopping Centre is a 220,000 sq ft retail centre in the heart of Rugby comprising of 58 retails units and a 580 space multi storey car park. The centre is currently undergoing a partial refurbishment to the common parts, this includes replacement of 5 lifts, new atrium glazing, M&E equipment, fire alarm, CCTV, internal cladding and a new granite floor.
Our clients treat this building as a minimum 5 year term investment, with an eye on improving their investment value through the current £5m refurbishment programme and reconfiguration of units to create more user friendly retail space.
CBGA Robson’s role includes full day to day management of the scheme including rent, service charge and insurance collection. Since our involvement with the scheme we have managed to obtain 100% rental collection within 7 days of the quarter day, well above the clients expectations. Our goal was also to streamline the service charge by reducing unnecessary overheads and clients void liability. We continue to find ways in improving the services on site and work closely with the client and onsite team to achieve this.
Related Articles: CoStar, Property Week, Time Retail
In an off-market transaction on behalf of Tritax Big Box REIT, CBGA Robson have secured the forward commitment of a c. 400,000 sq ft distribution and production facility in Wigan.
The Westwood Park facility will become Nice-Pak International’s new headquarters, serving the UK, Europe, Australia and New Zealand. Upon completion, NPI have agreed to take a new 25 year lease, without break and subject to five yearly RPI reviews.
The agreement will see Tritax pay a sum of £28.66m to the developer, Liberty Properties, reflecting a NIY of 6.42% after costs.
Related Articles: Tritax Big Box REIT Plc, Property Week