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 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.
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CBGA Robson have been appointed to manage the largest Sainsbury’s Distribution Centre in the north-west.
The building is located on the Haydock Industrial Estate in Haydock and comprises a substantial warehouse facility of approximately 626,000 sq.ft. The unit serves 96 Sainsbury’s sites from the Scottish borders into the North, Leeds, to the East and Stoke to the South.
It is let to Sainsbury’s Supermarkets Limited for a term of 25 years from 24th February 2008 at a current rental of £3.146m per annum. There are rent reviews every five years based on the Retail Price Index. The lease is guaranteed by J Sainsbury Plc.
The tenant has recently made significant investment into the ‘Red Prairie’’ computer system, which is the state of the art logistics computing system of the supermarket industry.
The property is owned by overseas private clients who have been the owners since 2008 and have recently refinanced the property.