We have a strong track record advising a range of clients, both private and corporate, in the acquisition and disposal of commercial investment properties. A couple of examples of our integrated approach are presented here as Case Studies.
4/5 Southernhay West, Exeter
In 2015 Stratton Creber Commercial were instructed by a London based investment company to act on their behalf managing this multi-let period office building situated in Exeter’s prime business district adjacent to Cathedral Close and the High Street.
After a period of active management, aimed and improving the fabric of the building and tenant profile the company decided to sell the building in 2016. They instructed us to carry out a full marketing campaign which resulted in significant interest where we eventually realised a price in excess of the asking figure of £700,000 at a yield equating to 6.5% after allowing for normal purchasers costs.
Following the sale, a local investor re-instructed Stratton Creber Commercial to continue managing the property liaising with him to refurbish vacant lower ground offices thereby maximising the rental income and improving the client’s investment yield. We continue to provide a pro-active management service anticipating future expenditure demands within the scope of the service charge budget.
Acquisition on behalf of private SIPP pension investor
Following an extensive search for a freehold retail investment property we inspected a unit with our client situated in the prime stretch of St Mary’s Street, Weymouth, adjacent to Marks & Spencer. The property is let to a national quality covenant thereby giving the client long term income security. We provided an acquisition report to the client setting out the pros and cons of this investment property to include an assessment of the covenant strength and leasehold terms which in this case are granted on a full repairing and insuring basis for a lease term expiring in 2024.
A price was agreed at £900,000 equating to a net initial yield of 7.1%. Subsequently the client instructed Stratton Creber Commercial to manage the property including dealing with rent collection, buildings insurance and regular inspections.
Truro – Adam Beverley-Jones
Tel: 01872 261028
Exeter – Simon Greenslade
Tel: 01392 202203