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Purchase of freehold of Durnsford Road, Wimbledon

A private UK client of Nightingale Partners has acquired the freehold of a mixed use property on Durnsford Road, Wimbledon.

The property comprises a terrace of 10 units providing c18,861 sq ft of production, storage, office and gym accommodation, located within a 5 minute walk of Wimbledon Park underground station. It is multi-let to 7 tenants with an average unexpired lease term of 6.5 years to expiry and 5.25 years to break.

The purchase price of £3,900,000 reflected a net initial yield of 6.17% and a capital value of £207 per sq ft.

For further information contact Richard Pope.

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Purchase of Tyco Fire Products Unit, Handlemaker Road, Frome

On behalf of a private vendor, Nightingale Partners has purchased the freehold interest in Tyco Fire Products Unit, Handlemaker Road, Frome comprising 37,632 sq ft of offices with ancillary car park.

The property comprises a prominently situated modern industrial unit located to the south of Frome in northeast Somerset. It is let in its entirety to Tyco Fire Products Manufacturing Limited for a term of 5 years.

The purchase price of £3,460,000 reflected a net initial yield of 6.74% and a capital value of £91.82 per sq ft.

The purchaser was represented by Nightingale Partners.

For further information contact Richard Pope.

loverock road reading

The Disposal of 17 - 35 Loverock Road, Reading.

  • The freehold interest in 17 - 35 Loverock Road, Reading, Berkshire, RG30 1DZ, has been sold by Wallop Estates to Clipstone Industrial REIT plc.
  • The multi-let industrial estate is located 1 mile from Reading town centre with excellent transport links and comprises 10 units fully let to 7 tenants on 8 separate leases across 31,440 sq ft.
  • Wallop Estates acquired the property in February 2018 at which point 60% of the total income was subject to leases that had expired between 2010 and 2015 and a further 30% of the total income was subject to leases with tenant breaks or expiries within 2.5 years’ time with an average rent of £6.11 per square foot.
  • Wallop Estates renewed or regeared all the leases, increasing the average rent to £8.44 per square foot and the WAULT across the property to 4.3 years until break and 8.3 years until expiry.
  • The rents remain below the market rents for the area and these asset management initiatives were executed without the loss of a single occupier demonstrating the ongoing strength in the sector both occupationally and investment wise.
  • The purchase price of £4,250,000 reflects a net initial yield of 5.86%
  • Nightingale Partners represented Wallop Estates.
  • ANDAC Properties represented Clipstone.

For further information Download Full Sales Details (PDF) or contact Rupert Mitchell.

1 curo park st albans

Sale of a One Curo Park St. Albans

  • Situated on Curo Business Park, 3 miles to the south of St Albans, and 2 miles from the M25/M1 junction.
  • Well specified office building developed in 2003 extending to 17,532 sq ft (1,628.7 sq m).
  • Freehold.
  • Let in its entirety to John Sisk & Sons Ltd, with a guarantee from Sicon Limited, on FRI terms.
  • 20 year lease, without break, expiring on 11th July 2033, benefiting from an unexpired term of 15 years.
  • Rent reviews in July 2018 and July 2023 to the higher of open market value or RPI increases with a collar of 1% and a cap of 3% per annum compounded annually.
  • A guaranteed rental increase on 12th July 2018 to a minimum of c.£291,000 (£16.60 per sq ft) if RPI is adopted, or if higher, to the open market rental value.
  • Offers in excess of £4,335,000, subject to contract and exclusive of VAT, for the freehold interest in One Curo Park, St Albans. Assuming a minimum uplift in the rent to £291,000 per annum on 12th July 2018 this would reflect an attractive net initial yield of 6.3% and low capital value of £247 per sq ft, after allowing for standard purchaser costs of 6.5%.

For further information contact Richard Pope.

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Sale of a South East Distribution Warehouse

On behalf of a private vendor, Nightingale Partners has disposed of a well let warehouse and office complex. The lot size was £20m

The terms of the deal remain confidential. The vendor was represented by Nightingale Partners.

For further information contact James Turner / Rupert Mitchell.

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Acquisition of Thames Wharf Studios, Hammersmith

The freehold interest in Thames Wharf Studios, Hammersmith has been acquired by RPMI Railpen, represented by Nightingale Partners, from London & Regional.

Thames Wharf is home to the world-renowned River Cafe restaurant which has recently renewed its commitment to the property via a long-term lease.

Set on a one-acre site with rare frontage to the River Thames, the majority of the property comprises office accommodation which was previously occupied as the headquarters of Rogers Stirk Harbour & Partners and has since been multi-let to a variety of office tenants.

Nightingale Partners represented the purchaser and Allsop LLP represented the vendor.

chiltern park

Freehold Purchase Chiltern Park

Weslyan Assurance Society, represented by Nightingale Partners have purchased a freehold income producing property on Chiltern Park, Chalfont St Peter, Buckinghamshire, a business park development completed in 2012 by Barwood Capital

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