Please see below for a selection of news stories or downloadable media relating to Nightingale Partners.
Acquisition of Office Property, Chancery Lane, London
 Aviva Investors (on behalf of one of their segregated mandates) has acquired the long leasehold interest in 48/49
Chancery Lane and 1 Quality Court, London, for £15.575 million, reflecting a net initial yield of 5.63%.
The property comprises a Grade A office building on ground and five upper floors totalling 27,232 sq ft (2,529.9
sq m) which was comprehensively refurbished and extended in 2008.
The property is currently multi-let to The National Pro Bono Centre, PSD Limited, The Berkeley Partnership LLP and CF Global Trading (UK) Limited. The total gross income is £1,028,216 and the net income is £925,394.40. Approximately 70% of the total income is secured until between 2018 and 2020.
Aviva Investors were represented by Nightingale Partners.
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Disposal of Industrial Property, Deeside, Clwyd, Flintshire
 The freehold interest in Unit 1, Tenth Avenue, Deeside Industrial Park, Deeside has been sold by The Easter Group to a group of overseas investors.
The property comprises a high quality modern industrial unit of approximately 100,000 sq ft located in a
prominent position in Zone 3 of Deeside Industrial Park.
Deeside Industrial Park is one of the North West’s
premier industrial locations and totals over 600 acres of industrial and warehousing accommodation. The unit is
let to Belfield Furnishings Ltd on a lease expiring in October 2019 at a passing rent of £452,500 per annum.
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Acquisition of Office & Residential Property, Grosvenor Gardens, London
 The long leasehold interests in 46/48 Grosvenor Gardens & 46 48 Grosvenor Gardens Mews South have been
acquired by a client of Nightingale Partners.
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Acquisition of New York University in London, Bedford Square, Bloomsbury
 The long leasehold interest in 6 Bedford Square has been acquired by an overseas family trust advised by Nightingale Partners from a private client of CBRE.
The purchase price of £7.208 million equates to a capital value of £715 per sq ft.
6 Bedford Square comprises a highly attractive Grade I listed property situated in a desirable location
on Bedford Square in Bloomsbury - the only complete Georgian Square in London.
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Acquisition of Rolex Unit, One Hyde Park, Knightsbridge, London
 Contracts have been exchanged for the purchase of the virtual Freehold interest comprising the Rolex Retail Unit at One Hyde Park. The property, a high end retail unit within the world famous One Hyde Park residential development is located adjacent to the Mandarin Oriental Hotel.
Offers were sought in excess of £12.5m, reflecting a net initial yield of 3.00%.
The property is leased for a further 14.5 years at a rent of £400,000 per annum, reflecting c. £300 per sq ft ITZA. The property offers a highly secure income return and excellent rental growth prospects; the adjacent identical unit has recently been leased at £587 per sq ft ITZA.
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Acquisition of Arts & Dance Academy, Kensington, London
 The freehold interest in 4-6 Abingdon Road has been acquired by a unit trust from a private vendor.
The property comprises approximately 5,000 sq ft over lower ground, ground and two upper floors.
The purchasers commented that the property offers an opportunity to refurbish and operate rare space in the Royal Borough of Kensington and Chelsea suitable for an Arts and Dance academy.
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Disposal of Office Property, Mayfair, London
 The freehold interest in Chesterfield House, 1 Chesterfield Street and 16A Curzon Street has been sold by a private client of Nightingale Partners.
The purchase price of £6.725 million represented a net initial yield of 3.8% and a capital value of £1,825 per sq ft.
Chesterfield House comprises a highly attractive Grade II listed Georgian building located in the heart of Mayfair. The property provides office accommodation totalling 3,686 sq ft.
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Disposal of Mixed Use Property, New Oxford Street, London
 A private overseas client of Nightingale Partners has completed the sale of the freehold interest in Isis House, 64-76 New Oxford Street, London WC1 for £9.5m.
The 19,000-sq ft building comprises retail space on the lower ground and ground floor together with three upper floors of office space. Tenants include Prêt a Manger and international PR consultancy, Ruder Finn (UK).
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Disposal of Mixed Use Property, Notting Hill, London
 The freehold interest in 197 Westbourne Grove has been sold by a private overseas client of Nightingale Partners.
The property is situated on Westbourne Grove, and comprises a retail unit on ground and basement level, let to Chanceview Limited (trading as Bonpoint) until 2020, with three residential flats above let on Assured Shorthold Tenancies. In total the property provides circa 2,200 sq ft of accommodation.
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Disposal of Mixed Use Property, Notting Hill, London
 The freehold interest in 66-74 Notting Hill Gate has been sold by a private overseas client of Nightingale Partners.
The purchase price of £11,325,000 represented a net initial yield of approximately 4.65% and a capital value of £681 per sq ft. The property comprises five retail units with ten residential flats, totalling 16,629 sq ft (1,544.8 m).
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Disposal of Retail Parade, Notting Hill, London
 The freehold interest in 95-101 Westbourne Grove has been sold by a private overseas client of Nightingale Partners.
The property is situated on Westbourne Grove, and comprises a parade of four retail units arranged over ground and lower ground floors, together with ten residential flats on the first to third floors which have been sold off on a long lease at a peppercorn. The property provides 4,192 sq ft (389.4 sq m) of retail accommodation.
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Acquisition of Office Property, London
 Aviva Investors UK Real Estate Recovery Fund, c/o Aviva Investors, advised by Nightingale Partners, has acquired the freehold interest in 10 Whitfield Street, London, W1 from Draco.
The property is situated immediately west of Tottenham Court Road and to the north of Oxford Street, and totals approximately 21,263 sq ft (1,975.3 sq m) of multi-let office accommodation.
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Acquisition of Retail Warehouse, London
A Spanish family investment vehicle, advised by Nightingale Partners, has acquired the freehold interest in Atlantic House, 51-57 Upper Richmond Road, Putney, London, SW15.
The property, on a site of 0.24 acres, comprises 5,195 sq ft of ground floor retailing space which is occupied by Majestic Wine Warehouses. The upper parts, comprising eight flats, have been sold off on long leases.
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Acquisition of Office Property, Southampton
 Capital Trust, on behalf of a Middle Eastern client, advised by Nightingale Partners, has acquired the freehold interest in Stoneham Park, Eastleigh from Jeeves Investments LLP. Jeeves Investments LLP is a joint venture between AEW and Mountgrange.
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Acquisition of Industrial and Office Property, Watford
Wallop Estates, advised by Nightingale Partners, has purchased the freehold interest in 117 Bushey Mill Lane, Watford, WD24 7UN from a Joint venture between Helical Bar and Albion Land.
The property comprises Industrial and office and units totalling 24,327 sq ft located on Bushey Mill Lane. The property is fully let to McNicholas Construction Ltd for a further 9 years and c. 6 months.
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Acquisition of Prime Retail Property, Winchester
An in-house fund of Nightingale Partners has purchased the freehold interest in 47 High Street, Winchester from an investment vehicle managed by Canford Property Ventures LLP.
The property is located in a prime position on the pedestrianised High Street and is let to JJB Sports plc for a further 9 years.
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Acquisition of 14-15 Craven Street, London
Nightingale Partners has acquired the freehold interest in 14-15 Craven Street on behalf of Hanson Industrial Pension Scheme Trustees Limited, c/o Aviva Investors from clients of CBRE Investors.
The property is situated just off Strand and is immediately adjacent to Charing Cross Station, and totals approximately 6,114 sq ft (568 sq m) of office accommodation.
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Acquisition of Industrial and Car Showroom, London Road
Wallop Estates Limited, through Nightingale Partners, has acquired 250 & 268 London Road on Staines from
DTZ Investment Management. The purchase represents a Net Initial Yield of 7.5%. The property comprises industrial and car showroom units totalling 22,859 sq ft located on London Road. The property is fully let to Ford Retail Limited.
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Nightingale Partners Show Strong Growth
During the month of 'Movember', four members of the Nightingale Partners team raise £700.00 for The Prostate Cancer Charity.
If you would like to donate, please see http://www.justgiving.com/Nightingale-Movember.
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Sale of Oxenford House, Oxford
The freehold interest in Oxenford House, 13/15 Magdalen Street, Oxford has been acquired by Essex County Council (c/o Aviva Investors) from a private overseas client of Nightingale Partners and GVA Saxon Law.
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Acquisition in Rainham, Easter Business Park
Broadhaven Limited, through Nightingale Partners, has acquired Unit 15, Beam Reach in Rainham from the Easter Development Partnership LLP. The property comprises a single industrial/warehouse unit of 6,360 sq ft located on Easter Park. The property is let in its entirety to Wincanton Holdings Ltd.
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Nightingale Partners "spreads its wings"
Nightingale Partners is featured in Property Week Financial section.
The article provides detail on Nightingale Partners' investment brokerage services as well as our equity raising mandate. For comment or more information on how Nightingale Partners could assist you, please contact Rupert Mitchell or call the office on +44 (0) 20 7399 0640.
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Market Update - London, West End
Nightingale Partners has published a Market Update for London's West End. Richard Pope covers West End focus topics relating to overseas investors, restricted supply, and stock selection.
Please contact Richard Pope on 020 7399 0640.
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Industrial Acquisition in Croydon
Nightingale Partners has acquired Units 1-3 Brazil Close in Croydon for a private client from the RREEF UK Industrial Fund.
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Richard Pope Appointed
Nightingale Partners is pleased to announce the arrival of Richard Pope who has recently joined from GVA Saxon Law where he was an Executive Director. Richard's joining strengthens our growing Investment Team. |
Alice Pendleton Appointed
Nightingale Partners is pleased to announce the arrival of Alice Pendleton, previously of Cushman and Wakefield. Alice joins our National Investment team. |
High Street Retail Acquisition
Nightingale Partners completes the purchase of the Vodafone retail unit in Parliament Street, York.
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Joint Venture Formed
The successful introduction of Cavendish Ltd, a wholly owned subsidiary of a major Gulf institution, to London & Stamford Property Ltd. The resultant joint venture provides co-investment funds, at this stage up to £200m of equity. Nightingale Partners acted as a conduit throughout negotiations and due diligence whilst liaising with the various parties to the joint venture and their advisors. Please refer to the London & Stamford website; www.londonandstamford.com for further details on the activities of the joint venture.
For further information please see the following links:
http://www.londonandstamford.com/media_centre/rns/?id=1789
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Industrial Fund Formed
The origination of funds for the successful formation of a £250m industrial real estate joint venture to invest in a series of UK assets through an established UK developer.
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For any further information or queries relating to any of these news items, please contact the Nightingale Partners office. |
