A centrally located office building in the heart of the City centre, comprising 31,935 square feet of office accommodation, over four floors, together with 44 car parking spaces.
The property is let to The Secretary of State Department for Communities and Local Government on a 10 year full repairing and insuring lease.
This property is managed by CBGA Robson on behalf of REI PLC
CBGA Robson have acquired this Shopping Centre investment on behalf of a Private Client for £5million representing a NIY of over 10%.
This predominantly Freehold property comprises over 70,000 sq ft of mixed use accommodation including 3 large format stores, 20 retail and leisure units, and offices, as well as 22 residential ground rents.
CBGA Robson have been retained to advise on a number of Asset Management opportunities.
The above Freehold multi let industrial investment has been sold on behalf of a Private Trust client to Petchey Industrial holdings Ltd for £1,500,000 to reflect an initial yield of 7.4%
The property comprised a terrace of units totalling 15,611 sq ft and was multi let to tenants including Euro Car Parts Ltd and Antac Ltd.
CBGA Robson have sold the Freehold investment on behalf of a private consortium of investors to Threadneedle UK Property Authority Investment fund for £3,125,000 to reflect an initial yield of 5.32%
The unit comprised some 18,000 sq ft and was le for a further 13 years to Jewson , guaranteed by Saint Gobain Building Distribution Ltd. The lease is subject to review based upon RPI (open) and the current income was £179,136 per annum.
CBGA Robson have completed the disposal of a portfolio of nine properties on behalf of Davies Holdings for £8.35 million to the M. Baker Trust.
The properties were predominantly retail units located in the West Country and tenants included Morrisons, Tesco, Lloyds Bank, Magnet, Specsavers and Café Nero.
The properties were sold as part of a corporate transaction where Michelmores solicitors acted jointly with CBGA Robson.
Overseas clients of CGBA Robson have acquired the Freehold investment at Wisbech Retail Park for £14.1million from Tesco Properties.
The park comprises nine retail units totalling 83,375 sq ft with 371 car spaces.
CBGA Robson have been retained as Managing Agents and are also project managing the extension to the B&M Retail unit to provide a larger 23,000 sq ft store.
Next door, Wickes are nearing completion of a new store development which will link the Wisbech and Belgrave retail parks to create the dominant out of town retail offer in Wisbech.
CBGA Robson have been instructed to manage Sutherland House, a 93,000 sq.ft office building located between Crawley and Three Bridges.
Property is located on a large plot including 200 car parking spaces.
It is let to Paymaster Limited, guaranteed by Equiniti Group PLC, with 14.5 years unexpired at a current rent of £1,100,000 per annum i.e £11.82 per s.f.
The freehold interest in the building was recently acquired on behalf of private clients in approx sum of £16.5m, which shows a net initial yield of 6.25%.
This modern office building was acquired for private clients and comprises a distinctive 8,000 sq. ft. building set in park surroundings. Itbecame vacant in 20xx, following the departure of a well-established tenant. The office rents in the area were ad traditionally around £18.50 per sq. ft.
After close consultation with local agents and our client, we undertook and project managed the refurbishment of the offices to include the replacement of the old air-conditioning with a modern VFR system, repositioned the ceiling with a new integral system with LED lighting and carried out a refurbishment of the central core, retaining parts of the building capable of being reused within the new scheme.
A central focus was the improve the EPC from an F rating for the building, to broaden the buildings appeal to a wider range of tenants in a difficult market, whilst avoiding the expense of changing many of the expensive elements of the building, such as the windows and exterior fenestration.
The whole refurbishment was undertaken at a cost equating to £40 per sq. ft. With the careful use of lighting and services the EPC is now a C rating.
The building has been let to Uponor Ltd who are an international company, for a term of 10 years without breaks paying a rental in excess of £22.50 sq. ft
These two adjoining period building extend to some 12,500 sq. ft. with a mixed use of Restaurant /Bar on part of the ground floor and basement with 10 office units on the three floors above.
The property was acquired for private clients. The asset management strategy was to refurbish the accommodation to provide good quality space and improved services for the tenants.
CBGA Robson project managed the refurbishment to re-create theoriginal character of the buildings. The walls have been taken back to the brickwork, the original ceilings exposed, which now have the benefit offull VRF air conditioning to provide a modern office environment with full facilities in interesting character space. The works have also involved structural improvements to the buildings to allow for adding further floors to the existing structures
The office units range in size from 700 sq. ft. to 1500 sq. ft. and attract new ’start up’ companies, so care has been taken to make the space easy for companies to move in and out with an expected occupation period of around 3 to 5 years with flexibility to combine units as tenants expand.
This has resulted in achieving full occupancy with the office rents rising from £10 a sq. ft. in 2010 to over £50 per sq. ft. Today, the restaurant is let to The Drunken Monkey producing £160,000 per annum.
Fryern Arcade was constructed in 1967 and comprises a purpose-built Shopping Centre located on the prime retail location within the prosperous town of Chandlers Ford.
It comprises 20 retail units, a two restaurants, a dental surgery and 7 flats.
The retail units benefit from a covered walkway around the central surface car park providing approximately 40 spaces at the front. There is an additional rear car park for 60 cars accessed through a covered archway.
CBGA Robson recently project managed a £500,000 refurbishment of the property to improve the common parts. A second phase has just been completed which involved the reconfiguration of retail units and new lettings to Costa Coffee, WH Smiths and Boots the Chemists.
The current income is £415,000 per annum.