Sales

A selection of sales handled by Legat Corbishley.

Unit 4500, Harrier Way, Magna Park, Lutterworth, LE17 4XT

Freestanding high-bay Distribution unit with ancillary offices, constructed in 2001, extending to approximately 227,885 sq ft on a site of over 12 acres.

The unit is let to a single tenant, on an FR&I lease for a term expiring in June 2026, at a passing rental of £1,524,294 pa.

The virtual freehold interest was sold, to an Institutional investor, for in excess of £24m.

Unit 4500, Harrier Way, Magna Park, Lutterworth, LE17 4XT

Tunbridge Wells Trade Park, Units 1-6 Longfield Road, Royal Tunbridge Wells TN2 3QF

A modern freehold trade park, located in a well-established out of town trading location, comprising 6 units extending to some 23,230 sq ft on a site of 1.19 acres. Tenants include Breitling UK Limited.

The units are let to 4 tenants, on FR & I leases producing an aggregate income of £308,722 pa.

The trade park was sold for circa £6.38m on behalf of a private property company to a Local Authority Investor.

Tunbridge Wells Trade Park, Units 1-6 Longfield Road,  Royal Tunbridge Wells TN2 3QF

Bridge House, Units 1-2, 20 Eelmore Road, Farnborough GU14 7UE

Comprising two intercommunicating single storey industrial units, incorporating ancillary office accommodation and extending to some 50,660 sq ft.

The entire is let to a single tenant on an FR & I lease for a term expiring in September 2027 at a passing rental of £367,335 pa.

The Long Leasehold interest was sold, on behalf of a private property company, to a Local Authority Investor for £4.6m.

Bridge House, Units 1-2, 20 Eelmore Road, Farnborough GU14 7UE

Unit 5420, Hawke Way, Magna Park, Lutterworth LE174XN

Modern Distribution unit, extending to some 236,500 sq ft with ancillary office space, on a site of 11.8 acres.

The virtual freehold interest was sold on behalf of a private property company, with full vacant possession, for circa £22 m.

Unit 5420, Hawke Way, Magna Park, Lutterworth LE174XN

St Julian’s Estate Limited – Corporate Sale

The Company assets comprised a portfolio of four freehold properties – a residential block in Central London (5 terraced houses, a flat and garaging) and three separate industrial units in Chepstow, Bognor Regis and Eastleigh extending to some 62,890 sq ft.

The residential houses and flat were let on AST’s and the industrial units on varying length FR & I, leases with the portfolio producing a total aggregate income of £476,420 pa.

The company was sold to a well- established private property company at a figure reflecting a property value of over £10m.

St Julian’s Estate Limited – Corporate Sale

J Sainsbury’s – 25 South Street, Bishop’s Stortford and Distribution Unit, Essex Road/Pindar Road, Hoddesdon

A 33,000 sq ft High Street supermarket and an older style 1960’s single storey 190,000 sq ft distribution unit.

Both let to J Sainsbury plc for a term expiring in 2075 and 2082 at an aggregate rent of £1,159,500 pa and subject to 5 yearly, upward only rent reviews.

Sold on behalf of a private property company for approximately £23.75m.

J Sainsbury’s – 25 South Street, Bishop’s Stortford and Distribution Unit, Essex Road/Pindar Road, Hoddesdon

Valley Cross, Valley Drive, Swift Valley park, Rugby CV21 1QN

Acting for a private investor, we negotiated the sale of this modern 330,000 sq ft distribution warehouse.

The property was let to the Co-op on a lease expiring in 2023 at a rental of £1,732,212 pa.

The freehold was sold to a UK Fund for approximately £23m.

Valley Cross, Valley Drive, Swift Valley park, Rugby CV21 1QN

Q-Park, Talbot Street, Nottingham

This multi-storey underground car park provides some 600 spaces and is let to Q-Park on a lease to 2047 at a rental of £450,000 pa.

Sold to a fund management client of Standard Life for £7.1m.

Q-Park, Talbot Street, Nottingham

27 Soho Square, London W1

Acting on behalf of a private property company client we sold this freehold office property to Hermes for over £20m.

The investment was part let to Barclays and part vacant and comprised a 30,400 sq ft 1980’s air-conditioned office building.

Our client was about to refurbish the vacant floors when we were approached by an agent representing this major institution – terms were agreed to sell off market.

27 Soho Square, London W1

14/15 Stratford Place, London, W1

An attractive 1,394 sq m (15,000 sq ft), air-conditioned office and retail building which was re-developed behind an attractive period façade.

The offices are let to William M Mercer Limited and the shop to fashion retailer, Jigsaw.

The freehold interest sold to an overseas Family Trust for circa £18m.

14/15 Stratford Place, London, W1

Great Marlborough Street, 51- 53 Great Marlborough Street, London W1

Mid 1980’s West End Office building arranged over lower ground, ground and seven upper floors with 5 on site car parking spaces.

The building extends to some 3,562.52 sq m (38,347 sq ft) and is let in its entirety to Logica International Limited on an overriding lease expiring in 2025.

The Freehold interest sold to an institution for over £28m.

Great Marlborough Street, 51- 53 Great Marlborough Street, London W1

80-86 Grays Inn Road, London WC1 & 1-5 Portpool Lane, London EC1

Two well located office buildings with a total aggregate floor area of 1,749 sq m (18,833 sq ft).

The refurbished Grays Inn Road building is let to a charity on an overriding lease expiring in 2020 whilst the other building is let to a single tenant on a number of separate tenancies expiring in 2020, with mutual break options in 2015.

The freehold interests in the properties were sold on behalf of private investors for in excess of £7m.

80-86 Grays Inn Road, London WC1 & 1-5 Portpool Lane, London EC1

Connaught House, 255 High Street, Guildford, Surrey

Prominent office building located in a central position, within this affluent Cathedral City and extending to some 2,555 sq m (27,500 sq ft) with on site car parking.

The entire property was let to Lloyds TSB Bank Plc.

Sold the freehold interest, on behalf of a property company, for £10.5m.

Connaught House, 255 High Street, Guildford, Surrey

Buckingham House, Buckingham Parade, The Broadway, Stanmore, Middlesex

The property, located in the heart of this prosperous north London suburb, is arranged over four floors and comprises 12 prominent retail units together with two floors of self contained offices above.

Extending in total to some 4,020 sq m (43,278 sq ft), the property was let to a variety of tenants on varying length leases.

Sold on behalf of a Charity to a major British institution.

Buckingham House, Buckingham Parade, The Broadway, Stanmore, Middlesex

Sheldon Court, Wagon Lane, Sheldon, Birmingham

The property occupies a prominent main road position and comprises two modern office buildings extending in total to some 2,987 sq m (32,153 sq ft) together with 65 on-site car parking spaces.

The two buildings are let to 3 tenants on leases expiring in between 2010 and 2017. Over 70% of the income secured upon the Government.

Sold on behalf of a private property company to a major Pension Fund.

Sheldon Court, Wagon Lane, Sheldon, Birmingham

Tudor Court, Bouverie Street, London, EC4

Modern 4,534 sq.m. (48,807 sq.ft.) air-conditioned office investment in the City of London let to Davies Arnold Cooper, solicitors, on a lease expiring in 2015.

Sold on behalf of a private investor to a major institution for £39m.

Tudor Court, Bouverie Street, London, EC4

Gainsborough House, 26-30 High Street, Crawley

This modern building is arranged over three floors providing some 1,910 sq m (20,565 sq ft) of office accommodation above two ground floor retail units.

The offices are let to Gainsborough AWG Limited, guaranteed by AWG Group Limited (formerly Anglian Water Plc) fronting High Street.

The freehold sold to an institutional investor.

Gainsborough House, 26-30 High Street, Crawley
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