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Property Sales: Central London & UK

Please click here to see our previous deals or do take a moment to view or download our track record booklet highlighting some recent sales and acquisitions.

Nightingale Partners are currently retained to dispose of the following investments or developments:

 

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.

South East Distribution Warehouse

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.

Pennine House, Bradford

Sale of Pennine House, Bradford

  • The property has recently gained benefit of vacant possession.
  • Strong change of use potential subject to necessary consents; of interest to retailers, department stores, hoteliers, developers and owner occupiers.
  • Immediately opposite the entrance to the new £260m Westfield Broadway Shopping Centre.
  • Comprising 72,696 sq ft (6,754 sq m) over lower ground, ground and five upper floors with 72 car parking spaces.
  • Situated on a site of 0.73 acres (0.29 ha); a very low town-centre site coverage of only 56% - with 0.31 acres of development land in car park to the rear providing scope for additional new build scheme, subject to planning.

For further information contact Richard Pope.

One Elmfield Park, Bromley

Sale of One Elmfield Park, Bromley

  • South East London Office Refurbishment Opportunity.
  • Self-contained town centre office building totalling 24,092 sq ft (2,238.1 sq m).
  • The property produces a total income of £350,313 pa reflecting £14.75 per sq ft, with the majority of the leases running to July 2016.
  • Sold for £4.525m / 7.32% NIY / £188 per sq ft.

For further information contact Richard Pope.

117 Bushey Mill Lane, Watford

Sale of 117 Bushey Mill Lane, Watford

  • Freehold industrial property in Greater London.
  • 24,327 sq ft GIA mix of 1930's and 1970's construction.
  • The property has planning permission for the demolition of the existing buildings and erection of new units B1, B2 and B8 with service yard and car parking totalling c. 27,000 sq ft.
  • Let to McNicholas Construction for a further 3.25 years at a rent of £256,977 per annum.
  • Sold for £2,850,000 / 8.53% NIY.

For further information contact James Turner.

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Rolex, One Hyde Park, 100 Knightsbridge, London, SW1

  • Super prime retail investment, in the heart of Knightsbridge.
  • Located within possibly the most famous address in the world.
  • Let off a highly reversionary rent (£303 ZA) with opportunity to review in only 15 months.
  • Fully glazed, modern retail unit let to Rolex with 11 years remaining.
  • Sold for £22,250,000 / 1.7% NIY / £8,000 per sq ft.

For further information contact Rupert Mitchell.

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Robert Dyas, 6-8 Church Street, Weybridge, Surrey, KT13 8DX

  • Prime, well-let Greater London retail investment.
  • Virtual Freehold, newly developed in 2006.
  • 3,581 sq ft (1,147 ITZA) ground floor retail unit with 4 parking spaces.
  • Let to Robert Dyas Holdings Ltd with 11.25 years remaining at £82,500 per annum.
  • Sold for £1,305,000 / 5.97% NIY.

For further information contact Will Collis.

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46-48 Grosvenor Gardens Mews South, London, SW1

  • Prime residential investment opportunity located in Belgravia.
  • Three apartments (plus garage) recently refurbished and reconstructed to a high quality finish.
  • Currently let on three short-term contracts.
  • Overall Gross Internal Area of 2,605 sq ft (242 sq m) including garage.
  • Freehold held by the Grosvenor Estate.
  • Offers were invited for the Long Leasehold Interest.

For further information contact Rupert Mitchell.

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10 Whitfield Street, London, W1

  • Prime West End office investment opportunity.
  • Situated within the West End’s vibrant Noho district.
  • An attractive and sustainable 21,263 sq ft Grade A office building, redeveloped in 2008.
  • Multi-let to five tenants, producing a total net income of £961,026 per annum.
  • Approximately 48% of the total income extends beyond 7 years.
  • Sold for £20.19m / 4.5% NIY.

For further information contact Richard Pope.

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