40 Long Acre, Covent Garden WC2

40 Long Acre, Covent Garden WC2

This prime office building situated above Covent Garden underground station comprises 11,754 sq ft let to Interbrand Group until December 2013. It was sub-let to a subsidiary Fleishman Hillard at a rent of £499,545 per annum.
The tenant’s lease was restructured increasing the rent and guaranteeing vacant possession 15 months from original lease expiry date. The property was then sold to the freeholder, Transport for London, for £10 million generating a return of in excess of 30% on an ungeared basis over the 4 year holding period.
63-65 Station Road, Addlestone

63-65 Station Road, Addlestone

This 1970s office building situated in this affluent Surrey town comprises 8,978 sq ft on a good sized plot in the town centre. It is mostly let to Pandrol International Ltd until March 2023 at a rent of £140,000 per annum.
A residential conversion scheme was worked up for this property which was then sold to Runnymede Borough Council 15 months post purchase for £2.1m generating an ungeared internal rate of return of c35%.
19-20 Noel Street, Soho W1

19-20 Noel Street, Soho W1

This modern 1990 built office building is situated in the heart of Soho, close to both Oxford Street and Regent Street. The property comprises 8,802 sq ft let to TBWA until June 2015 and guaranteed by its parent DAS Europe, part of Omnicom. The property is sub-let to MWB Business Centres.
The property was sold in April 2011 to a newly established fund for £5.85m generating an internal rate of return in excess of 22% on an ungeared basis.

The Space Centre, Prescott Road, Poyle

The Space Centre, Prescott Road, Poyle

This property is situated in Poyle Industrial Estate on the junction of Poyle Road and Prescott road within easy access of Junction 14 of the M25. It is also adjacent to Terminal 5 and 3 miles from Heathrow Cargo Terminal. The property comprises 2 two storey business units of 29,000 sq ft with yards on a 1.21 acre site (28% density).
The property offers significant medium term redevelopment potential as well as capital & income growth prospects from letting the vacant unit. The 50% owned share in this property was sold to joint venture partner Scarborough International in late 2012.