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.
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 was 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.
In 2021 we negotiated a 15 year reversionary lease with the existing tenant and the comprehensive refurbishment of the Listed building.
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.
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.
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.
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.
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.
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.
Following Travelodge’s CVA in 2020 the lease was determined and the hotel relet to Premier Inn on a long lease.
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.
Acquired for a private property company and later resold to a UK institution.
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.
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 private pension fund.
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.
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.
New freehold distribution unit strategically located adjacent to Junction 15 of the M1 Motorway acquired on behalf of a private investor.
The property extending to some 19,479 sq m (209,000 sq ft) is let to Yusen.
The property was subsequently disposed of to a Public Property Company in exchange for two newly developed Premier Inn hotels in Edmonton and Uxbridge.
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.
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.
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.
We recently negotiated a lease renewal with Heathrow Airport Limited for 15 years resulting in a substantial increase in the capital value of the asset.
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 was let to Sytner Group Plc and was acquired for a private property company.
Following the expiry of the overriding lease on the property the common parts and vacant floors have been refurbished and the office space has been relet or is being marketed.
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.
Legat Corbishley have advised on the acquisition of a variety of property investment portfolios involving packages of between £15 – £150m.
