Investment Transactions Services in London

Acquisition of Rudford Industrial Estate, Ford, West Sussex

Long-let freehold industrial investment
Index-linked reviews
Purchase price £4.125m/ 7.96%

For further information contact James Turner or Richard Pope.

Press Release
July 2023

Disposal of 66-68 Chapel Street, Marlow, SL7 1DE.

Nightingale Partners represented Wesleyan Assurance Society.
Situated in the centre of Marlow.
Office extending to c6,672 sq ft (NIA)/ c8,725 sq. ft (GIA).
Freehold.
Potential to convert to residential under Permitted Development.

For further information contact Richard Pope.

Press Release
June 2023

The Ivy, 89-91 East Street, Chichester, PO19 1HA

Acquisition of the Ivy Restaurant, 89-91 East Street, Chichester, PO19 1HA.

Nightingale Partners and Cew Capital represented a private UK client.
Prime restaurant which has recently undergone a substantial refurbishment.
Let to Troia (UK) Restaurants Limited, guaranteed by Caprice Holdings Limited, for 25 years from November 2021.
Passing rent £150,000 per annum.
Purchase price of £2,880,000 reflected a net initial yield of c4.9%, and a capital value of c£265 per sq ft.

For further information contact Richard Pope.

Press Release
January 2023

Purchase of Nuffield Health and Fitness, Gosforth Business Park, Newcastle, NE12 8ET.

On behalf of Wesleyan Assurance Society Nightingale Partners jointly advised on the purchase of a Nuffield Health & Fitness investment at Gosforth Business Park, Newcastle upon Tyne.
The 2002 purpose built health & fitness club has a 25m indoor pool and extends to 37,652 sqft over a 4.25 acre site.
The property is let to Nuffield Health until March 2040 and the lease has annual CPI rent reviews with a collar & cap of 2% & 4% per annum. The passing rent is £270,400 per annum.
The property was acquired for c£4.28m reflecting a net initial yield of c5.93%.

For further information contact Richard Pope.

Acquisition of 61-65 New Street, Birmingham, B2 4DU

Nightingale Partners represented Consolidated Property Group in the purchase of this prime freehold mixed use block on New Street, Birmingham.
The property comprises four ground floor retail units with 4 upper floors of offices. The majority of the offices are let to the NHS (at c£17.00 psf), and the first floor is currently vacant with he opportunity to refurbish and re-let at a significantly higher rent.
The property was acquired off market for circa £9.5million, reflecting a net initial yield of c7.75% and a capital value per sq ft of c£240

For further information contact Richard Pope.

Sale of Manchester Industrial Park, Manchester

Freehold disposal of Manchester Industrial Park, Manchester, on behalf of Consolidated Property Group.
The property comprises a terrace of 7 units providing 61,212 sq ft of accommodation.
The purchase price of £7,000,000 reflected a net initial yield of 3.63%.
Nightingale Partners represented Consolidated Property Group

For further information contact James Turner.

Sale of Woodman Works, Durnsford Road, Wimbledon.

Freehold disposal of Woodman Works, Durnsford Road, Wimbledon to Tritax Property Income Fund (TPIF).
The property comprises a terrace of 10 units providing 19,812 sq ft of distribution, storage, office and gym accommodation.
The purchase price of £6,500,000 reflected a net initial yield of 3.50% (4.80% allowing for top up of vacant units) and a capital value of £328 per sq ft.

For further information contact Richard Pope.

Press Release
April 2022

Sale of Charta House, 30-38 Church Street, Staines-Upon-Thames, TW18 4P.

Freehold disposal on behalf of Wesleyan Assurance Society of Charta House, 30-38 Church Street, Staines-Upon-Thames to Andora Commercial LLP.
Town centre office with various asset management opportunities, including a refurbishment/ extension of the offices or conversion to residential.
The purchase price of £2,950,000 reflected £268 per sq ft on the net internal area.

For further information Download Full Sales Details (PDF) or contact Richard Pope.

Press Release
March 2022

Sale of Batchworth House, Church Street, Rickmansworth, WD3 1JE

Freehold disposal on behalf of Wesleyan Assurance Society of Batchworth House, Church Street, Rickmansworth to Bugler Developments Limited.
Town centre office with various asset management opportunities, including a refurbishment/ extension of the offices or conversion to residential.
The purchase price of £3,350,000 reflected £389 per sq ft on the net internal area.

For further information Download Full Sales Details (PDF) or contact Richard Pope.

Press Release
March 2022

Acquisition of industrial investment in Milton Keynes.

Nightingale Partners jointly advised an institutional investor on the purchase of a single let industrial investment on Bradbourne Drive in Milton Keynes for a figure in excess of £8,000,000/ 5.8%.
The terms of the deal remain confidential.

For further information contact Richard Pope.

Sale of Chiltern House, Bath Road, Slough, SL1 5PR

Vacant freehold office with residential development potential.
Office building on ground and two upper floors with a gross internal area of 7,410 sq ft and net internal area of 5,798 sq ft.
The property was marketed at a quoting level of £1,000,000 and was sold for £1,325,000.

For further information Download Full Sales Details (PDF) or contact Richard Pope.

Press Release
October 2021

Sale of Oliver House, 23 Windmill Hill, Enfield, EN2 7AB.

Freehold disposal on behalf of Wesleyan Assurance Society of Oliver House, Windmill Hill, Enfield, EN2 7AB to a company managed by Ebury Holdings.
The property is situated in the centre of Enfield and comprises a predominantly vacant office building with the potential to convert to residential under Permitted Development.
The property was marketed at a quoting level of £2,350,000 and was sold for £3,100,000.

For further information Download Full Sales Details (PDF) or contact Richard Pope.

Press Release
September 2021

Acquisition of multi let industrial estate in Northern Ireland

Acquisition of multi let industrial estate for £9.35m and a NIY of 16.68%. The 60-acre site is the largest unbroken, single ownership industrial estate in Northern Ireland and is home to 750,000 square foot of accommodation with uses that include distribution, light industrial, manufacturing and other uses.

For further info pleas contact James Turner.

Press Release
February 2021

Acquisition of modern office building

Weslyan Assurance Society has purchased the freehold of Grosvenor House, The Square, Lower Bristol Road, Bath, BA2 3BH from Wessex Water Services Limited.

The property is situated in the centre of Bath, within a 10 minute walk of Bath Spa railway station, and comprises a well specified modern office building, extending to approximately 18,763 sq ft (1,743 sq m), together with 45 car spaces, providing an excellent ratio of 1:417 sq ft.

For further information contact Richard Pope.

Press Release
March 2020

Acquisition of two prime retail units

Advised by Gateley's and Nightingale Partners, Avignon Capital, the European property investment and asset management business, has completed two retail transactions in London.

A prime retail unit in St Johns Wood, the highly affluent North West London suburb adjacent to Regents Park. This prominent retail unit is let to Hamptons International.

For further information contact Rupert Mitchell.

Press Release
March 2020

Acquisition of Mixed-use investment

A private investor, advised by Nightingale Partners has purchased the freehold interest in a retail and residential investment located on Walham Grove, London, SW6 for c£1m.

The purchaser was represented by Nightingale Partners

For further information contact Rupert Mitchell.

Press Release
March 2020

Off market Acquisition of London Office

A Private Investor has purchased the freehold of an office located in Camden, NW1 for a consideration of c.£10m. The property will be refurbished and subsequently partly owner occupied.

The terms of the deal remain confidential.

The purchaser was represented by Nightingale Partners

For further information contact Rupert Mitchell.

Press Release
March 2020

Purchase of long income asset

An institutional investor, advised by Nightingale Partners has purchased the virtual freehold interest in a long let office investment with RPI uplifts located in West London for a consideration of c £30m.

The terms of the deal remain confidential.

The purchaser was represented by Nightingale Partners

For further information contact Rupert Mitchell.

Press Release
January 2020

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.

Press Release
October 2019

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.

Press Release
October 2019

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.

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.

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.

Press Release
January 2018

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.

Press Release
January 2018

Evening Standard Article
January 2018

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

Acquisition of Clarendon House, London Road, Kingston, Greater London

The freehold interest Clarendon House, London Road, Kingston, Greater London has been purchased by Altum Capital from Kames Capital for £9.5m reflecting £281 per sq ft.

The property comprises a six story office property totalling 33,847 sq ft and is let for 10 years to Travel republic Ltd. The current passing rent equates to £645,000 per annum.

Nightingale Partners acted for Altum Capital. Savills represented Kames Capital.

For further information contact Rupert Mitchell.

Press Release
November 2017

Disposal of Pennine House, Bradford

On behalf of a private vendor, Nightingale Partners has disposed of the freehold interest in Pennine House, 39-45 Well Street, Bradford comprising 72,696 sq ft of offices with ancillary car park.

The property is well-located immediately opposite the entrance to the Westfield, Broadway Shopping Centre in a strategic town-centre location, equidistant between Bradford Forster Square station and Bradford Interchange station.

An early surrender was taken from the tenant and property subsequently sold as a vacant development opportunity. The property was sold for £2m.

The vendor was represented by Nightingale Partners.

For further information contact Will Collis.

Press Release
August 2017

Disposal of New City House, Preston

On behalf of a private vendor, Nightingale Partners has disposed of the long leasehold interest in New City House, Preston comprising 36,827 sq ft.

The property is let to a subsidiary of JP Morgan; NCO Europe Ltd until September 2023.

The sale price achieved in excess of the quoting figure of £1.5m.

The vendor was represented by Nightingale Partners.

For further information contact Rupert Mitchell.

Press Release
July 2017

Record Capital Value for Prime Office on Grosvenor Street

On behalf of a private overseas vendor, Nightingale Partners has disposed of an impressive family office building in a prime location on Grosvenor Street, Mayfair, W1.

The terms of the deal remain confidential, however, a record capital value per sq ft was achieved on the sale.

The vendor was represented by Nightingale Partners.

For further information contact Will Collis.

Press Release
June 2017

Acquisition of Handforth Dean Retail Park, South Manchester

Aviva Investors has bought the newly constructed Next Home and Garden flagship store in south Manchester for £15.8m.

The acquisition was made on behalf of Essex County Council and reflects a yield of 5%.

The property represents the first phase of the Handforth Dean Shopping Park, which will feature retail units, cafes and restaurants, a gym and an hotel.

Future phases of the Consolidated Property Group (CPG) development will include a restaurant quarter and a fashion park.

Aviva Investors was advised by Nightingale Partners and Curson Sowerby, while CPG was advised by Savills and JLL.

For further information contact James Turner.

Press Release
May 2017

55 Victoria Street wins RIBA London Regional Award 2017

We are delighted to learn that 55 Victoria Street, acquired last year by private clients of Nightingale, has won the RIBA London Regional Award.

Congratulations to Alchemi, Stiff + Trevillion and their teams.

55 Victoria Street is a residential conversion and extension of an office building from the 1980's. Planning was granted to create 57 apartments, with retail uses at ground floor; a prominent extended twelve-storey component on the North-West corner and the creation of two south facing communal gardens on the ground and eighth floors.

For further information contact Rupert Mitchell.

Article
May 2017

Press Release
May 2017

Acquisition of 2 Haymarket, Norwich

The freehold interest in 2 Haymarket, Norwich has been acquired by JRRT (Properties) Limited, represented by Nightingale Partners, from clients of HRH Retail.

The property is located in a prime trading location within the heart of the historic city of Norwich. It comprises a shop unit providing a total area of c1,300 sq ft.

The property is let to Accessorize Limited at a current rent of £65,000 per annum.

The purchase price of c. £1,040,000 reflects a net initial yield of approximately 5.90%.

For further information contact Richard Pope.

Press Release
May 2017

Acquisition of 13-15 Butcher Row, Salisbury

The freehold interest in 13-15 Butcher Row, Salisbury, has been acquired by JRRT (Properties) Limited, represented by Nightingale Partners, from clients of Fawcett Mead.

The property is located in a busy trading location within the heart of the historic city of Salisbury. It comprises two shop units providing a total area of 3,522 sq ft.

13 Butcher Row is let to White Stuff Limited from October 2009 until 31st January 2020 at a rent of £67,500 per annum. 15 Butcher Row is let to Whittard Trading Limited from December 2009 until 22nd December 2019 at a rent of £34,250 per annum.

The total passing rent is £101,750 per annum.

For further information contact Richard Pope.

Press Release
Dec 2016

Retail Acquisition

Nightingale Partners have acquired a prime London retail investment for in excess of £8 million for a private overseas investor. The terms of the deal remain confidential.

The acquisition demonstrates on-going demand for well-let UK commercial investment opportunities in Central London.

For further information contact Rupert Mitchell.

Press Release
Aug 2016

Disposal of Revolution, Chambers Street, Edinburgh

Nightingale Partners has provided disposal advice to a private client in the sale of the Revolution Bar, 30a Chambers Street, Edinburgh - a prime city-centre leisure investment in the Old Town, located opposite the National Museum of Scotland and adjacent to the Law Courts and University of Edinburgh campus buildings.

An attractive Grade B listed property providing 12,644 sq ft (1,174.7 sq m) GIA of quality restaurant and bar accommodation. The property comprises three separate bars and a dance floor, creating a venue with a capacity for in excess of 600 people.

Entirely let to Revolution Bars until 12th September 2030 on a FRI lease without break, the investment offers well-secured income at a passing rent of £197,500 per annum reflecting a low £15.62 per sq ft overall.

The purchaser will benefit from an unsettled rent due in September 2015.

For further information contact Will Collis.

Press Release
Aug 2016

Acquisition of The Dog & Pheasant, Haslemere Road, Brook

The freehold interest in The Dog & Pheasant has been acquired by a private client of Nightingale Partners. A well-regarded public house prominently located on Haslemore Road in the stunning Hamlet of Brook, Surrey.

The property is situated opposite Surrey's Pirrie Hall, a local landmark, cricket and tennis club. Brook is approximately 5 miles to the south east of Godalming and approximately 4 miles north east of Haslemere.

The Dog & Pheasant comprises a Grade II listed, highly popular and substantial public house arranged over ground and first floor levels and set in a large plot comprising circa 0.55 acres.

The property was recently regeared on a new 15-year lease which is subject to 5-yearly fixed uplifts to the equivalent of 2.00% per annum compounded throughout the term.

For further information contact Will Collis.

Press Release
June 2016

Acquisition of Pizza Express, West Hampstead

The freehold interest in 255 West End Lane, NW6 has been purchased by a private Luxembourg investor of Nightingale Partners.

The freehold property located in 255 West End Lane is prominently situated on the southern corner of West End Lane and Dennington Park Road.

The retail unit is let to Azzurri Restaurants Ltd on a FRI lease for a term of 25 years until March 2029, with surety from Azzurri Central Ltd. The passing rent is £55,000 per annum plus the benefit of a ground rent from the residential upper parts. The premises are underlet to Pizza Express (Restaurants) Limited who are undertaking a major refurbishment of the unit.

For further information contact Will Collis.

Press Release
June 2016

Acquisition of Hovis London Bakery, Mitcham, Greater London

The freehold interest in the Hovis (London Bakery) located at Ellis Road, Mitcham, Greater London has been purchased for £4,935,000 by Altum Capital from Mansford LLP.

The property, located in the London Borough of Merton, comprises a warehouse with ancillary office accommodation totalling 32,586 sq ft and is let for in excess of 10.5 years to the 5A1 rated covenant of Hovis Limited at a rent of £281,950 pa.

“The purchase is in line with Altum's strategy to acquire good quality real estate, within core locations across the UK,” said Jack McCarron, Investment Manager at Altum Capital. “We are happy to have secured this industrial investment located within Greater London, which is well let and possesses strong rental growth prospects.”

For further information contact Rupert Mitchell.

Press Release
Jan 2016

CoStar News
Jan 2016

Disposal of One Elmfield Road, Bromley, BR1 1LU

A wholly owned subsidiary of CLS Holdings plc has acquired the freehold interest in One Elmfield Park, Bromley BR1 1LU from Aviva Investors, for a figure of £4,525,000 (Four Million Five Hundred and Twenty Five Thousand Pounds).

The property is situated close by to Bromley South Railway Station and comprises c24,000 sq ft (2,238 sq m) of offices, together with 12 on site car spaces.

The property produces a total income of £350,313 per annum reflecting £14.75 per sq ft, with the majority of the leases running to July 2016.

The purchase price of £4,525,000 reflected a net initial yield of 7.32% and a capital value of £188 per sq ft.

For further information contact Richard Pope.

Press Release
Jan 2016

CoStar News
Jan 2016

PropertyWeek
Jan 2016

Disposal of 117 Bushey Mill Lane, Watford

The freehold interest in 117 Bushey Mill Lane, Watford has been disposed of for £2,850,000 by Wallop Estates, representing a net initial yield of 8.53%.

The property dates in the main from early to mid-1970's construction, whilst a small part dates from the 1930's.

The property provides a gross internal area of 24,327 square feet and is let in its entirety to McNicholas Construction (Holdings) Ltd for a further 3.25 years at a rent of £256,977 per annum.

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.

For further information contact James Turner.

Press Release
Jan 2016

CoStar News
Jan 2016

Acquisition of 22 Bruton Street, Mayfair

The leasehold interest in 22 Bruton Street, London, W1 has been purchased by a private client of Nightingale Partners for in excess of £7,000,000.

The property is located in the heart of Mayfair on the north side of Bruton Street, looking over Berkeley Square. It comprises a prime Mayfair office, retail and residential investment, extending to 10,419 sq ft (967.98 sq m) and is held under a head lease expiring in 2029 at a fixed rent of £300 per annum.

The property is let to a number of high profile office tenants with a prime retail unit trading as Maison Margiela on the ground floor.

The total net income from the office and retail elements is £598,500. The residential element is currently vacant.

For further information contact Richard Pope.

Acquisition of Retail Parade on Goodramgate, York

The freehold interest in 63-73 Goodramgate, York, has been acquired by JRRT (Properties) Limited from Town Centre Securities Plc.

The property is located in a busy trading location within the heart of the historic Cathedral city of York, close by to York Minster. It comprises a terrace of two large retail units let to Tesco Stores Limited and Bonmarche Limited, together with a café and restaurant, extending to approximately 16,696 sq ft (1,578.9 sq m).

Approximately 80% of the income is secured to Tesco Stores Limited and Bonmarche under leases extending until at least June 2022, off passing rents equating to approximately £55 Zone A.

The total current income is £232,000 per annum. The purchase price of £3,550,000 reflects a net initial yield of 6.18%.

For further information contact Richard Pope.

Acquisition of High Street Retail, Lancaster

The freehold interest in 4-6 Penny Street & 3-5 Market Street, Lancaster, has been acquired by JRRT (Properties) Limited.

The property is located within the prime retail section of the historic university town of Lancaster. It comprises a prominent corner retail unit of traditional stone construction, with frontages onto both the pedestrianised Penny Street and Market Street.

The building provides a total net internal area of approximately 5,634 sq ft (523.4 sq m). The entire property is let to JD Sports Fashion Plc on a 10 year lease expiring on 6th October 2024 (tenant break 6th October 2019), at a current passing rent of £120,000 per annum. The purchase price of £1,780,000 reflects a net initial yield of 6.38%.

For further information contact Richard Pope.

Acquisition of High Street Retail, Beverley

The freehold interest in 41 Toll Gavel, Beverley has been acquired by JRRT (Properties) Limited from a client of Colliers Capital.

The property is located within the prime retail section of the affluent and attractive market town of Beverley. It comprises a two storey building offering well configured retail accommodation on ground with ancillary space on first floor, extending to approximately 4,543 sq ft (422.0 sq m).

The entire property is let to WH Smith Retail Holdings Limited on a 5 year lease expiring on 22 December 2019 at a current passing rent of £110,000 per annum. The purchase price of £1,730,000 reflects a net initial yield of 6.00%.

For further information contact Richard Pope.

Disposal of 6-8 Church Street, Weybridge, Surrey, KT13 8DX

A private client of Nightingale Partners has disposed of 6-8 Church Street, Weybridge, Surrey to a client of Allsop. The purchase price represents a net initial yield of 5.95%.

The property extends to a total of 3,581 sq ft (333 sq m) with a retail area ITZA of 1,147 sq ft over the ground floor and the unit benefits from four car parking spaces.

It is situated in a prime position on the northern side of Church Street close to the junction with Baker Street. The unit is conveniently located opposite the entranceway to the town's busy main car park.

The property is let to Robert Dyas Holdings Ltd with over 11 years remaining at a rent of £82,500 per annum.

Robert Dyas has been in occupation since the property was newly developed in 2006.

For further information contact Will Collis.

Acquisition of 70 New Oxford Street, London WC1

Orchard Street Investment Management has bought an office block on New Oxford Street for £36.5m. The fund manager, acting on behalf of St James's Place Wealth Management, has purchased 64-76 New Oxford Street from Jaro Real Estate.

The deal reflects a reversionary yield of 4.1% once the remaining office space is let. 64-76 New Oxford Street, which was extensively refurbished, comprises 17,729 sq ft of grade-A offices with two retail units on the ground floor.

The retail units are let to Pret a Manger and Itsu off rents reflecting £97 zone A and £140 zone A respectively. The first floor of offices is let to Active International at £67.50/sq ft and the remaining three floors are being marketed at quoting rents of around £70/sq ft.

Nightingale Partners acted for Orchard Street Investment Management.

For further information contact Richard Pope.

Acquisition of 48 Albion Street, Leeds

A private Spanish family trust, advised by Nightingale Partners, has acquired 48 Albion Street, Leeds. The purchase price of £4.0m represents a Net Initial Yield of 4.73%

The property totals 3,565 sq ft (331.2 sq m) over basement, ground and two upper floors and is situated on the eastern side of Albion Street at the junction with Commercial Street opposite the entrance to the Trinity Shopping Centre, situated within the prime retailing location in Leeds.

The property is securely let to Starbucks until 24th June 2025 at a rent of £200,000 per annum and an impending rent review due on 24th June 2015.

The purchaser was represented by Nightingale Partners.

For further information contact Will Collis.

Acquisition of High Street Retail, Nottingham

A private Spanish family trust, advised by Nightingale Partners, has acquired 8-10 Upper Parliament Street & 1- 5 Milton Street in Nottingham. The purchase price of £3.45m represents a Net Initial Yield of 5.50%.

The property totals 5,555 sq ft (516.05 sq m) over basement, ground and three upper floors and is situated in an extremely busy location in a highly prominent location at the top of the prime Clumber Street, opposite Intu Victoria and close to Trinity Square.

The property is fully let on a new 20 year lease at a rent of £200,000 per annum with annual RPI fixed uplifts to Burger King who have traded at the property for in excess of 30 years.

The purchaser was represented by Nightingale Partners.

For further information contact Will Collis.

Sale of Rolex, One Hyde Park, sets all-time record

A record yield of sub-2% has been set for a luxury West End shop as demand from international investors remains fierce.

A private Middle Eastern investor has paid more than £22m - a record 1.7% yield - for the Rolex store at the base of Candy & Candy's One Hyde Park in Knightsbridge, SW1. It is the first time yields have dipped below 2% in the area.

The previous Knightsbridge record was set the last time the 2,781 sq ft Rolex shop traded in 2011, with the purchaser paying £13m, reflecting a 2.9% yield.

Nightingale Partners advised the vendor.

For further information contact Rupert Mitchell.

Acquisition of Commercial Road, Portsmouth

A private Spanish family trust, advised by Nightingale Partners, has acquired 158 Commercial Road, Portsmouth.

The purchase price represents a Net Initial Yield of 6.30% The property occupies a 100% prime trading position on the pedestrianised Commercial Road, and totals 4,557 sq ft (423 sq m) over ground and two upper floors.

The property is fully let to Burger King for a further 15 years, providing a rental income of £180,000 per annum.

For further information contact Will Collis.

Press Release
Dec 2014

Disposal of Industrial and Car Showroom, Staines-upon-Thames

Wallop Estates Limited, through Nightingale Partners, has sold 250 & 268 London Road in Staines-Upon-Thames to a client of CBRE Global Investors. The purchase price of £4,325,000 represents a Net Initial Yield of 6.5%.

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 for a further 10.5 years, providing a rental income of £300,351 per annum.

Nightingale Partners represented the vendor.

For further information contact James Turner.

Press Release
Dec 2014

Acquisition of an Off-Market Aberdeen City-Centre Office

Nightingale Partners have acquired Johnstone House, Rose Street, Aberdeen, a multi-let reversionary office for in excess of £20 million for a private overseas investor in an off market transaction. The terms of the deal remain confidential.

The acquisition demonstrates continued demand from overseas investors for well-let UK commercial investment opportunities and this shows no signing of abating.

Nightingale Partners represented the purchaser.

For further information contact Rupert Mitchell.

Disposal of Oxford Square, Newbury

The freehold interest in Oxford Square, Newbury, RG14 1JG, has been sold on behalf of a private client of Nightingale Partners.

The property comprises a development of three modern self-contained office buildings arranged around an attractive courtyard. The buildings provide a total net internal area of approximately 28,818 sq ft (2,677.2 sq m) and range in size from 6,116 sq ft to 12,267 sq ft.

The property is multi-let producing a total net income of £488,747 (£16.95 per sq ft overall), with the majority of the leases expiring or containing break options between March 2015 and January 2019. In addition the property houses a multi storey car park with 105 spaces at a ratio of 1 space per 274 sq ft.

The sale price was £4,375,000.

For further information contact Richard Pope.

Acquisition of Quadrant House, 25 the Quadrant, Richmond

Nightingale Partners represented Aviva Investors in the acquisition of an office and retail building in Richmond town centre.

The property lies close to Richmond railway and underground station and comprises four ground floor retail units (totalling approximately 383.1 sq m (4,124 sq ft)), together with three floors of self-contained offices above totalling approximately 1,009.9 sq m (10,871 sq ft).

The purchase price was £8,250,000.

For further information contact Richard Pope.

Acquisition of Dyers Buildings, Holborn

Nightingale Partners have acquired a Midtown office investment in excess of £20 million for a private investor in an off-market transaction.

The terms of the deal remain confidential but demonstrate the continued desire for core prime central London investment opportunities.

Nightingale Partners represented the purchaser.

For further information contact Rupert Mitchell.

Retained to find Blo franchise sites across UK

Blo, the US blow dry bar, is looking to open its debut sites in London, with plans to grow the businesses to between 10-15 salons across the capital.

The brand, which trades from around 40 franchise sites across the US, Canada, Russia and the Philippines, has appointed agents at Nightingale Partners to help it find its first sites.

The search for sites of around 400-800 sq ft is focused on high footfall locations including Covent Garden, Soho, Kensington, Chelsea, Marylebone, the two Westfield shopping centres and the City of London.

Nightingale Partners represent Blo.

For further information contact Rupert Mitchell.

Disposal of Summit House, 70 Wilson Street, EC2

The virtual freehold interest of Summit House, 70 Wilson Street and 50 Worship Street, London, EC2A 2DB has been acquired by Low Carbon Workspace Partnership c/o Threadneedle Property Investments Limited from a private overseas client of Nightingale Partners.

The property is situated just to the north east of Finsbury Square and comprises an office building developed in 1989 on lower ground, ground and five upper floors, extending to approximately 56,962 sq ft. (5,291.8 sq m).

The property is held under a 999 year head-lease, and was formerly occupied by The International London Stock Exchange under 2 leases which expired in March 2014. The property was sold with vacant possession.

The purchase price of £21.50 million reflects an overall capital value of £377 per sq ft.

Nightingale Partners represented the vendor.

For further information contact Richard Pope.

Disposal of Boston House, Little Green, Richmond, Surrey

A private overseas client of Nightingale Partners has sold the freehold interest in Boston House, Little Green, Richmond, Surrey to Essex County Council (c/o Aviva Investors).

The property was developed in the 1980's and is arranged over basement, ground and three upper floors. The property extends to a net internal area of approximately 16,028 sq ft (1,489 sq m) and is let to Lloyds TSB Commercial Finance Ltd, Minesoft Ltd and GCS Compliance Services Ltd.

The purchase price of £5,610,000 reflected a net initial yield of 6.45% and a capital value of £350 per sq ft on the net internal area.

Nightingale Partners represented the vendor.

For further information contact Richard Pope.

Disposal of Beddington Farm Lane, Croydon

Wallop Estates, through Nightingale Partners, has disposed of Unit 1 Brazil Close in Croydon to Friends Life Ltd (c/o AXA Real Estate Investment Managers). The sales price of £4,175,000 represented a net initial yield of 6.85%.

The c. 40,000 sq ft single storey warehouse with two storey offices are located on Beddington Farm Road which is regarded as Croydon's principal industrial area. The property is let in its entirety to the D & B 5A1 rated covenant of Geopost UK Ltd trading as Parceline with over 8.5 years unexpired, providing a rental income of £302,500 per annum.

The attraction of Unit 1 is the unexpired lease term, the quality of Geopost's covenant and the outstanding location all of which are proving to be fundamental as investors continue to prioritise core assets with good underlying secure income streams.

Wallop Estates was represented by Nightingale Partners.

For further information contact James Turner.

Disposal of Kirkgate, Epsom, Surrey

The freehold interest of The Kirkgate, Epsom has been acquired by Aviva Investors (on behalf of their recently launched Aviva Investors UK Real Estate Recovery Fund II) from a Private Client of Nightingale Partners.

The property comprises a modern town centre air conditioned office building providing a net internal area of approximately 26,713 sq ft (2,482 sq m). The property is let entirely to Taylor Nelson Sofres plc, a subsidiary of WPP.

The purchase price of £5,250,000 reflected a net initial yield of 10.00% and a capital value of £196 per sq ft on the net internal area.

Nightingale Partners represented the vendor.

For further information contact Richard Pope.

Acquisition of Vacant Gallery & Residential, Knightsbridge

A private overseas client looking to owner-occupy on this fashionable street on the Knightsbridge / Chelsea border has successfully acquired a freehold property offering the requisite vacant commercial space and which further benefitted from a sizeable residential apartment with roof terrace above.

The building was acquired off-market and the purchaser advised by Nightingale Partners.

For further information contact Will Collis.

Disposal of Residential Development Site overlooking Sandbanks, Dorset

Nightingale Partners, representing a private overseas owner have advised on the sale of a residential development site in this much sought after location overlooking Sandbanks, Dorset. The terms of the deal remain confidential.

The site was severed from a larger residential development opportunity for conversion of existing buildings into townhouses which is of interest to developers and owner occupiers alike.

For further information on the retained land which is for sale, please contact Rupert Mitchell.

Disposal of Office Property, Noho, London

Aviva Investors UK Real Estate Recovery Fund, advised by Nightingale Partners, has sold the freehold interest of 10 Whitfield Street, London, W1 to West Midlands Pension Fund (c/o CBRE Global Investors), advised by CBRE, for £20,185,000, reflecting a net initial yield of 4.5%.

The property totals 21,263 sq ft (1,975.3 sq m) of grade A office space arranged over five floors and is situated within the West End's vibrant Noho district. The property is currently multi-let to tenants including Fisher Wealth Management and Outsourcery Ltd.

The total income is £961,026 per annum (average rent of £46.65 per sq ft), and just under 50% of the income extends until 2020.

Aviva Investors were represented by Nightingale Partners in the sale.

For further information contact Richard Pope.

Disposal of University House, Oxford Square, Newbury

Nightingale Partners represented a private investor in the sale of University House, Oxford Square, Newbury.

The property, comprising 5,700 sq ft (530 sq m) and 20 car spaces was purchased by a local company for their own occupation.

For further information contact Richard Pope.

Capital Raising: Joint Venture Formed

The successful introduction of a well-respected capital investor to a world renowned property company.

The resultant joint venture acquired a major city centre mixed use, retail and office, property for a consideration close to €75 million.

Nightingale Partners, as joint advisor, researched the market for an appropriate capital partner and acted as conduit between a short list of potential partners. An off market property was sourced and the Joint Venture completed the acquisition in early 2013.

For further information please contact Nightingale Partners.

Disposal of Two Townhouses, Off Strand, London

The freehold interest of 14-15 Craven Street, London, WC2N 5AD has been acquired by Hadley Property Group & Landcap from a client of Aviva Investors.

The property comprises an office building situated immediately south of Strand and Charing Cross National Rail station. It is Grade II listed and arranged over basement, ground and four upper floors, providing a net internal area of approximately 6,114 sq ft (568 sq m) and was offered with vacant possession.

Following the purchase of the asset in January 2010 for £3,400,000, Aviva Investors secured vacant possession of the property, and prior to marketing obtained a planning consent for conversion of the property to two houses.

The purchase price of £5,087,500 reflected a capital value of £832 per sq ft on the net internal area.

Nightingale Partners represented Aviva Investors.

For further information contact Richard Pope.

Disposal of Office Property, Southwark, London

The freehold interest of 1-5 Barge House Street & 26-34 Upper Ground, SE1 9PD has been acquired by private clients of The Deerbrook Group from clients of Aberdeen Asset Management.

The property comprises a terrace of five office buildings situated in the Southbank immediately behind the Oxo Tower and Sea Containers House.

The property extends to approximately 20,158 sq ft (1,872.7 sq m) and is let entirely to Steer Davies Gleave Ltd until November 2021 without break, at a current rent of £638,500 per annum (£31.67 per sq ft).

The purchase price of £10.15 million reflected a net initial yield of 5.94% and a capital value of £503 per sq ft.

Nightingale Partners represented the vendors, Aberdeen Asset Management.

For further information contact Richard Pope.

Capital Raising: Meadowhall Shopping Centre, Sheffield

Pursuant to Nightingale assisting in the formation of a joint venture (below) LondonMetric / Green Park Joint Venture acquired a 50% stake in Meadowhall Shopping Centre, the remainder held by British Land.

The centre has a floor area of 1,500,005 sq ft (139,355 sq m). The purchase price £587.7 million / 6.75% NIY.

The property was later sold to Norges Bank for £762.5m / 5.09% NIY.

For further information contact James Turner or Rupert Mitchell.

Acquisition of HQ Office Property, Aberdeen, Scotland

Gatehouse Bank, the Shariah compliant investment bank has acquired the Bridge View and Consort House in Aberdeen from Ulster Estates for £59.9m.The deal represents a net initial yield of 7.15%.

The 159,170 sq ft property is the largest office development in central Aberdeen. It is let to oil and gas service provider Petrofac as its North Sea office headquarters which occupies 142,379 sq ft, and the Scottish Ministers (NHS) which occupies the remaining space.The building has an average weighted unexpired lease term of 14 years.

Gatehouse Bank were represented by Nightingale Partners; the deal was concluded off-market.

For further information contact Rupert Mitchell.

Acquisition of Retail Property, Pimlico, London

The virtual freehold interest in 166 Vauxhall Bridge Road, London, SW1V 2RB, has been acquired by private Spanish investors advised by Nightingale Partners.

The purchase price of £1,875,000 represented a net initial yield of 5.80%.

The property forms the ground and lower ground floors of a larger corner building, comprising 1,926 sq ft of A2 retail accommodation let to Foxtons Limited on a full repairing and insuring lease for a term of 20 years from 9th January 2012 expiring on 8th January 2032. The current rent is £115,000 per annum.

The purchasers were represented by Nightingale Partners.

For further information contact Will Collis.

Acquisition of Foodstore Property, Tooting Bec Road, London

RSJ Investments, advised by Nightingale Partners, has purchased the Freehold interest in 25 Treherne Court, Tooting Bec Road from Alburn Retail Ltd. The purchase price of £1,460,000 represents a net initial yield of 5.25%.

The property comprises a ground floor retail unit totalling 3,488 sq ft, located on Tooting Bec Road. The property is let to Sainsbury's Supermarkets Ltd for a further 12 years, providing a current rental income of £81,000 per annum. The property benefits from annual (uncapped) RPI uplifts with the next review in February 2014.

The property provides attractive investment characteristics due to the strength of the covenant, length of lease and uncapped RPI rental uplifts.

Nightingale Partners represented the purchasers.

Acquisition of Lodden Business Centre, Basingstoke

RSJ Investments, advised by Nightingale Partners, has purchased the long leasehold interest in The Loddon Business Centre, Basingstoke from Satinwood Ltd.The purchase price of £1,450,000 represents a net initial yield of 11.1%.

The property comprises a multi let business centre of 18 units totalling 30,523 sq ft. It is multi let to 10 tenants with a weighted unexpired lease term of approximately 5 years and provides a current net income of £170,554 per annum. The property also benefits from 5 vacant units.

Nightingale Partners represented the purchasers.

Acquisition of 48/49 Chancery Lane, London, WC2

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.

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.

Nightingale Partners represented the vendor.

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.

For further information contact Rupert Mitchell.

Acquisition of New York University in London, Bedford Square, Bloomsbury

The virtual freehold 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.

For further information contact Will Collis.

Acquisition of Rolex Unit, One Hyde Park, Knightsbridge, London

Private clients of Nightingale Partners have acquired the virtual freehold interest in 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.

For further information please contact Rupert Mitchell.

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.

For further information contact Will Collis.

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.

For further information contact Richard Pope.

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).

For further information contact Richard Pope.

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.

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).

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.

Acquisition of West End 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.

Nightingale Partners represented the purchasers.

Acquisition of Majestic Wine Warehouse, Putney

The freehold interest in Atlantic House, Putney has been acquired by a Spanish family investment vehicle from KAM Properties LLP.

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.

The purchasers commented that "the acquisition provides a steady yield derived from a UK plc company in an affluent residential area with longer term possibilities to develop or extend the site".

Nightingale Partners represented the purchasers. For further information contact Will Collis.

Acquisition of Office Complex, Southampton

The freehold interest in Stoneham Park, Eastleigh has been acquired by Capital Trust Group on behalf of a Middle Eastern investor from Jeeves Investments LLP. Jeeves Investments LLP is a joint venture between AEW and Mountgrange.

The purchase price of £9 million reflects a net initial yield of 7.46% and a capital value of £188 per sq ft.

Finola Reynolds of the Capital Trust Group commented that “this acquisition provides our investors with a good income return from a strong tenant with an unexpired lease term in excess of 10 years. This represents The Capital Trust Groups first investment acquisition since 2006 and marks the start of a renewed drive into the UK property market.”

Nightingale Partners represented the purchasers.

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 purchase price of £2,687,000 represents a Net Initial Yield of 8.00%.

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, providing a rental income of £227,130 per annum with a fixed uplift in May 2014.

There was considerable interest generated in the property from a variety of potential purchasers who were attracted to the unexpired lease term, quality of covenant and location combined with the potential for future redevelopment.

Wallop Estates (Watford) Ltd was represented by Nightingale Partners. For further information contac James Turner.

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 purchase price of £1,470,000 represents a net initial yield of 5.95%.

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, providing a current rent of £92,500 per annum.

With prime retail yields now achieving in the order of 5%, the initial yield of 5.95% on the subject property reflects a substantial discount. This purchase forms part of an ongoing acquisition strategy by this fund which has to date concentrated on high street retail units. Last year the fund acquired the Vodafone unit on Parliament Street, York from Invista.

Nightingale Partners represented the purchasers.

Acquisition of 14-15 Craven Street, London

The freehold interest in 14-15 Craven Street, London, WC2, has been acquired by Hanson Industrial Pension Scheme Trustees Limited, c/o Aviva Investors from clients of CBRE Investors.

The purchase price of £3,400,000 represented a net initial yield of 5.62% and capital value of £556 per sq ft.

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 which is let in its entirety to Kidd Rapinet Solicitors for a term expiring June 2012 at a rent equating to £33.00 per sq ft overall.

Aviva Investors were represented by Nightingale Partners. For further information please contact Richard Pope.

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 price of £3,750,000 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 for a further 15 years and 7 months, providing a rental income of £297,518 per annum.

There was considerable interest generated in the property from private investors and UK institutions who were attracted to the unexpired lease term, quality of covenant and location which are proving to be fundamental as investors flee to core assets with underlying secure income streams.

Wallop Estates Ltd was represented by Nightingale Partners. For further information contact James Turner.

Disposal 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) advised by Knight Frank from a private overseas client of Nightingale Partners and GVA Saxon Law. The purchase price of £6,000,000 represented a net initial yield of 6.75%.

The property totals approximately 16,805 sq ft (1,561.3 sq m) of retail, office and leisure accommodation located on Magdalen Street at the end of the prime pedestrianised retailing pitch of Cornmarket. The property is fully let, providing a rental income of £430,770 per annum. 44% of the income is secured against Jaeger Holdings Ltd trading as Jaeger with over 10.5 years unexpired, and a further 32% of the income is secured against British Study Centres, who recently took a 20 year lease (without break) on the newly refurbished offices.

The property generated strong interest from both UK institutions and private investors due to the quality of the location, the mix of uses and unexpired lease terms.

The vendor was represented by Nightingale Partners and GVA Saxon Law. For further information contact Richard Pope.

Acquisition in Rainham, Easter Business Park

Nightingale Partners announces the acquisition of Unit 15, Easter Park, Beam Reach 8A, London Riverside, Rainham, Havering, Essex.

Broadhaven Limited, through Nightingale Partners, has acquired Unit 15, Beam Reach in Rainham from the Easter Development Partnership LLP. The property was purchased for an undisclosed sum.

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 Limited until 16th June 2024.

Broadhaven Limited was represented by Nightingale Partners. For further information contact James Turner or Rupert Mitchell.

Nightingale Partners "Spreads Its Wings"

Extract from Property Week 30|10|09

People leaving large firms to set up on their own has been one of the stories of the year. But one pair blazed a trail down this route more than two years ago — in the eye of the credit crunch storm.

Since then, in one of the worst markets the industry has ever seen, former GVA Saxon Law investment surveyors Rupert Mitchell and James Turner's Nightingale Partners has been busy.

It has been involved in £265m of direct property transactions and helped to set up joint ventures that carry more than £1bn of firepower...

Continue to read the original article here:

Property Week
30-Oct-2009

Industrial Acquisition in Croydon

Wallop Estates Limited, through Nightingale Partners, has acquired Units 1-3 Brazil Close in Croydon from the RREEF UK Industrial Fund. The purchase price of £4,550,000, represented a net initial yield of 9.5%.

The property comprises three industrial/warehouse units totalling 61,593 sq ft located on Beddington Farm Road which is regarded as Croydon's principal industrial area. The scheme is fully let, providing a rental income of £458,000 per annum. 65% of the income is secured against the D & B 5A1 rated covenant of Geopost UK Ltd trading as Parceline with over 13 years unexpired.

There was considerable interest generated in the property from private investors and UK institutions who were attracted to the unexpired lease term, quality of covenant and location which are proving to be fundamental as investors flee to core assets with underlying secure income streams.

Wallop Estates Ltd was represented by Nightingale Partners.

For further information James Turner.

Acquisition of Vodafone in York

Invista Foundation Property Trust has sold a unit on Parliament Street in York to an in-house fund of Nightingale Partners.

The £1.9m disposal price reflects a net initial yield of 5.5% and was 9.8% above the 31 March 2009 valuation.

The unit, let to Vodafone which has a 10 year lease from February 2009 at a passing rent of £110,000 a year, is let at a zone A rate of £167.50/sq ft.

The strong yield achieved resulted from Invista Foundation Property Trust, managed by Invista Real Estate, surrendering a lease with retailer Jessop's and signing a long lease with Vodafone.

This purchase is Nightingale Partners' in house funds's first private treaty transaction. It had previously targeted auction lots. The fund is targeting lot sizes up to a maximum of £2.5m.

Nightingale Partners represented the purchasers.

Capital Raising: 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.londonmetric.com for further details on the activities of the joint venture.

Property Week
April 2008

Financial Times
April 2008

Capital Raising: Industrial Joint Venture 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.

For more information, or to find out whether we may be able to assist your requirement please contact the office.