Our Portfolio – Current Properties

Bridge House, Dudley

Consists of 42,841 square feet of office space currently let on a long-term lease with option of extension to the Secretary of State for Communities and local Government (occupied by the HMRC). Annual rent £544k.


 

Fawcett House, Sunderland

Consists of 77,000 square feet of office space over basement, ground and three upper floors, it is a multi-let building with tenants including the Council of the City of Sunderland, JD Wetherspoon and EE Limited. Annual rent £390k. Multiple lease expiries



 

King House Office, Luton

Consists of 31, 185 square feet of office space, fully let to the First Secretary of State and has been occupied by HM Revenue & Customs since 1985. Annual rent £285K. Lease expires 2025


 

Barnsley

 Ace portfolio in Barnsley, comprises of 12 residential properties and one area of development with planning permission to build up to four flats

Hulme House, Leeds

Let to Trillium, occupied by Department of Work and Pensions. 18,716 sq ft. Annual rent £188k. Lease expires 31/3/2018. Several options on expiry if lease is not renewed.



 

Princegate House Doncaster

Let to Secretary of State for the Environment until 23 August 2015 at £210k p.a. Provides good level of income in the short term and when the leases expire an opportunity to re-let at current market rates or convert to residential.

Located near to a major City-centre redevelopment

Hillcrest House, Leeds

21,000sq ft office accommodation fully let to the Secretary of State for Communities and Local government for use as Vehicle and Operator Services Agency. Current annual rental income £212k. Leases expire March 2019.


 

Shildon House, Gateshead

Three level building consisting of 17,195.77 square feet of office space plus parking for up to 16 cars. Fully let to the Security of State for the Environment under a 25 year lease that expires on 29 May 2022. Annual rent £175k.

Stoke-on-Trent portfolio

Residential portfolio of 24 houses (after sale of 8 properties in June 2011) introduced on formation in 2007, retained for rental income. Revaluation resulting from the drop in housing values in 2009 / 2011 resulted in an impairment charge which has now been partly written back.

Previous Transactions

New Bank House and Sovereign House, Sheffield

The two office buildings were purchased from the receiver of the previous owner in October 2010 for £2.52m. Both buildings were partially occupied by Sheffield City Council spread over several floors and on a large number of leases with inconsistent terms and for a variety of tenures.
After a lot of hard work, we negotiated a new 10 year lease for one entire building with Sheffield City Council and freed up the other building. This enabled us to sell both buildings for £3.9m in January 2011, one as an income-producing asset with a creditworthy tenant and the other vacant on which the new owner secured planning permission for residential conversion.

Oakley Street, Chelsea

House and next door flat purchased for £2.2m in August and October 2008. House had statutory protected tenant. His rights were bought out and he moved to flat.
Flat sold for £300k in February 2009. House sold for £2.08m in September 2009. Breakeven in spite of major drop in values in property market

Ukoud Tower, Dubai

Purchased £250k February 2008, £310k received in stage repayments by February 2009