New freehold 104 bed Hotel and adjacent Drive-Thru unit, completed in late 2018 and forming part of a larger mixed commercial and residential regeneration scheme adjacent to both the canal and Gloucester Quays Outlet Village.
The hotel (incorporating a Beefeater restaurant) let to Premier Inn Hotels Limited and the Drive-Thru to Costa Coffee are let on 25 year and 15 year FR & I leases respectively with 5 yearly CPI/RPI rental increases.
The property was acquired on behalf of a private property company client for circa £13.8m.
An attractive freehold Grade II office building, extending to some 8,630 sq ft located in a prime Mid-Town location in close proximity to the central Law Courts.
The entire property is let on a single FR & I lease to a well-established Barristers Chambers for a term expiring in March 2022 at a passing rental of £357,500 pa.
The investment was acquired on behalf of a private property company client for around £8.35 m
Freehold multi-storey car park (526 spaces) together with 74,000 sq ft of ancillary office, retail and restaurant space on a site of 1.4 acres in the centre of Leicester.
Let on an overriding lease to National Car Parks Limited on a FR & I lease expiring in May 2037 at a passing rental of £847,964 pa. The lease provides for annual RPI increase with a cap of 5% and a collar of 1.50%.
Acquired on behalf of a private property company for £16.7m
Premier Inn hotel located in an established commercial area within easy walking distance of the town centre and Maidstone West railway station.
Completed in 2013, the hotel is planned over five floors and provided 99 air-conditioned bedrooms together with an ancillary ground floor restaurant, bar and reception area. On-site parking for 92 cars.
The entire let to Premier Inn for a term of 25 years from February 2013 (with a break at year 20) at a passing rental of £470,250 pa. with 5 yearly reviews geared to the CPI Index.
The freehold interest was purchased, for a private client, for circa £9,500,000.
Newly developed Premier Inn hotel and self-contained office suite conveniently situated in the centre of Woking close to the main shopping, theatre, cinema and other amenities.
The Premier Inn has 105 air-conditioned bedrooms together with attractive reception area, restaurant and bar at second floor level. The office suite extends to some 4,650 sq ft.
The hotel is let to Premier Inn for 25 years from October 2013 (with a break at year 20) at £505,750 pa, subject to 5 yearly reviews in line with the CPI Index.
A private client acquired the freehold interest for £11.75m.
A fully refurbished warehouse and factory building providing approximately 17,500 sq ft of attractive, modern, air-conditioned office accommodation arranged over ground and three upper floors and served by two passenger lifts. On site secure parking for 4 cars.
The entire property was let to a single tenant at an initial rental of £473,500 pa. The lease has since been renewed and the owner has developed self-contained residential accommodation at roof level overlooking Ravenscourt Park immediately opposite.
The freehold interest was acquired on behalf of a private property company for just under £6m.
Two modern food-stores located in the town centre. The stores extend to some 53,000 sq ft, on a site of just over 3 acres and benefit from extensive on site car parking.
The two units are let to Waitrose and Iceland and produce a total aggregate income of £1,086,500 pa.
The freehold interest was acquired for a private property company client for circa £26.9m.
Modern Travelodge hotel located in the centre of Uxbridge incorporating a self-contained ground floor restaurant and an office suite.
The hotel has 121 rooms and is let to Travelodge for a term expiring in July 2043 with uncapped RPI increases at 5 yearly intervals. The office and restaurant are let on leases expiring in 2019 and 2039 respectively. The aggregate income is £674,391 pa.
Acquired the freehold on behalf of a long established private property company client for £13m.
Acting on behalf of a private pension scheme, we negotiated the purchase of this freehold retail investment located in this prosperous west London suburb.
The 3,500 sq ft unit was let to majestic WineWarehouses limited for a further 17 years at a rental of £87,500 pa.
Purchased for our client for circa £1.4m.
We negotiated the purchase of this refurbished office investment when market activity was very subdued just after the credit crunch.
Situated in a highly sought after mid-town location, this multi-let 20,000 sq ft building produced a rental income of just under £600,000 pa.
The freehold was acquired by a property company client.
Two distribution units extending in total to 8,114 sq m (87,341 sq ft) forming part of an established estate and located in close proximity to the M4/M5 interchange.
Let to the strong covenants of Brake Bros. Limited and Indesit Company UK Limited on leases expiring in 2015 and 2018 respectively.
Acquired for a private property company for £5.75m.
The unit, constructed in the late 1980’s, extends to approximately 3,166 sq m (34,081 sq ft).
The freehold interest in this modern industrial unit acquired for a private property company for £2,055,000.
Chandlers Ford is strategically located close to the intersection of the both the M3 and M27 Motorways and close to Southampton Airport.
This modern unit forms part of an established industrial estate and extends to approximately 4,202 sq m (45,230 sq ft) and benefits from low site cover of some 39%.
The entire property is let to a single occupier on a lease expiring in 2016.
A new reversionary lease has subsequently been negotiated with the tenant.
The freehold interest was acquired for £5,000,000.
Modern office building, arranged over 3 floors, conveniently located between the Station and the Town Centre shopping and extending to some 1,924 sq m (20,711 sq ft).
The entire property is let to G4S Cash Services (UK) Limited of a lease expiring in 2014.
The freehold interest was acquired on behalf of a private property company, from a syndicate of private investors.
This modern high-bay Distribution unit provides some 4,546 sq m (48,929 sq ft) of space and forms part of an established of an established industrial and office location.
The purchase is subject to a leaseback to Azelis S.A. for a term of 30 years. The rental is subject to annual RPI rental increases, subject to minimum and maximum increases of 2.5% and 5% respectively.
The freehold interest was acquired on behalf of a pension fund for £5,560,000.
The unit, extending to some 10,234 sq m (110,215 sq ft), is let to Geodis UK Limited on a 10 year lease.
This modern distribution unit, located on this premier logistics estate, acquired on behalf of a private investor, for £10,015,000.
A modern distribution unit of 21,294 sq m (229,231 sq ft) let to Primark.
The property was acquired from an Institution on behalf of a private investor for approximately £23m.
The Department store, extending to some 17,148 sq m (184,616 sq ft), is located in a prime position within the City centre. The entire is let to Debenhams Retail Plc on a lease expiring in March 2041. The lease provides for 5 yearly upward only rental reviews.
Purchased the freehold interest for a private investor for approximately £39m.
New freehold distribution unit strategically located adjacent to Junction 15 of the M1 Motorway acquired on behalf of a private investor for £17.35m.
The property extending to some 19,479 sq m (209,000 sq ft) is let to Yusen.
The heritable interest in this prime retail unit was acquired on behalf of a private client for a figure in excess of £12.4m.
The store, extending to 2,248 sq m (24,200 sq ft) is let to Marks & Spencer Plc for an unexpired term in excess of 80 years. The lease provides upward only rental reviews at 5 yearly intervals.
Priory House is a modern office building providing some 1,412 sq m (15,200 sq ft) over 8 floors with on site car parking. The entire is let to STA Travel Limited on a 25 year lease.
The purchase of the long leasehold interest, on behalf of a private property client, for in excess of £5.0m.
Modern “mid-town” office building extending to some 3,219 sq m (34,653 sq ft) let to a major firm of solicitors on a lease expiring in 2018.
Acquired the freehold interest on behalf of a private investor client for £14.125m.
New reversionary lease subsequently negotiated with the tenant.
Prime strategically located site of approximately 1.53 hectares (3.78 acres), currently used for airport car parking, with direct access onto the Northern Perimeter Road.
Let to Heathrow Airport Limited (a wholly owned subsidiary of BAA Plc.) on a lease expiring in 2021.
Acquired for private investor for £12.65m.
A well located motel on the Newbury Services, at the junction of the M4 and A34, providing 126 double bedrooms on a 2.17 acre site.
The property was let to Moto Hospitality Limited on a 35 year lease with minimum increases at 5 yearly intervals based upon 3% pa compound growth.
The freehold interest was acquired on behalf of a Pension Fund Client for £3.3m.
A 165,000 sq.ft., 310 bedroom hotel on a 9 acre site adjacent to Heathrow Airport which is entirely let to Thistle Hotels on a lease with over 150 years unexpired.
Acquired for a private family trust client.
A refurbished 6,000 sq.ft. retail and office building occupying a prime location at the junction with Bow Lane.
The property is let to Sytner Group Plc and was acquired for a private property company.
A Sale and Leaseback transaction acquired on behalf of a private property company.
The property extended to some 1,077 sq m (11,600 sq ft), comprised an older style industrial unit and was let to Brake Bros. on a new 15 year FR & I lease at an initial rent of £63,733 per annum.
The lease has subsequently been restructured.
The freehold interest was acquired on behalf of a private property company.
A prime freehold distribution unit, developed in 1990, situated adjacent to junction 9 of the M62 motorway in a well established distribution location.
The unit comprises a 14,010 sq m (150,808 sq ft) distribution facility, incorporating two floors of integral offices and is let to AAH Pharmaceuticals Limited on a lease expiring in 2016.
The freehold interest was purchased on behalf of a UK Fund for a figure in excess of £7m.
Legat Corbishley have advised on the acquisition of a variety of property investment portfolios involving packages of between £15 – £150m.