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Investment Transactions - Page 2

Please see below a selection of investment acquisitions and disposals that Nightingale Partners have advised on, both in Central London and the UK.

Alternatively, you can download our track record document by clicking here

 

 

Charta House, 30-38 Church Street, Staines-Upon-Thames

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
Batchworth House, Church Street, Rickmansworth

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
Bradbourne Drive, Milton Keynes

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.

Chiltern House, Bath Road, Slough

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
Oliver House, 23 Windmill Hill

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
Kilroot Business Park, Carrickfergus

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
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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
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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
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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
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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
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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
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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.

Press Release
October 2019
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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.

Press Release
October 2019
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.

Press Release
January 2018
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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.

Press Release
January 2018
Evening Standard Article
January 2018
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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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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