WHY ACE?

At the very heart of Ace’s success is the Board of Directors. It is the members’ long and diverse experience which has enabled them to acquire a huge range of contacts and to select advisors of the very highest calibre.

The biggest factor in Ace’s success is the Board’s judgement as to which properties to purchase. A careful assessment is made of the structure of the building and its location, the creditworthiness of the tenants, the lease provisions and duration, as well as potential alternative uses at lease expiry.

Getting these decisions right has set the Company on course for secure future revenue and capital receipts.

EXPERTISE – TEAM AND ADVISORS

Ace Liberty & Stone has a Board of Directors with long and diverse experience and the huge range of contacts which is so vital in this particular line of business.

Our outsourced consultants have been chosen with great care.

STABILITY / PRUDENCE

  • Over half of our rental income comes from Government bodies. The rest is largely from Blue Chip companies and this surety of rental income is a strong feature of Ace’s prudent approach. Even with COVID we have been able to collect 80% of rentals on time and have renegotiated timings of some rental payments writing off only £130,000, just 2% of that year’s rental income.
  • Carefully managed lease expiries enable us to plan the future of our portfolio in regard to retention, sale or disposal for development.
  • A high standard of Corporate Governance is implemented with non-executive directors involved to safeguard shareholders’ interests
  • Finance facilities are in place with top banks to enable us to seek out properties with confidence, knowing that funding will be available to complete.
  • Ace has a Loan-to-value of 53.35%, at the lower end of the spectrum for this kind of activity.

Portfolio Tenants by Status

by status

Portfolio Tenants by Sector

by sector

Portfolio Period by Tenancy Remaining

Tenancy Remaining

EARNINGS/GROWTH

Share By Price
Dividend History

Portfolio and Growth

Portfolio Growth 2020

Revenue and Profit Growth

Revenue and Growth 2020

CAREFULLY SELECTED PORTFOLIO

Successfully selecting properties to be a part of its portfolio is critical to Ace’s progress. The status of a property’s tenants is carefully assessed for surety of rental income along with its potential for other uses in the future.

ACE’S PROPERTY TRADING RECORD

One of the principal considerations for Ace’s management in buying a property is to foresee the potential for onward sale.

In the course of ten year’s trading, Ace has sold nine properties making an aggregate sales value of £33,240,750 against a total cost of £23,114,000 showing a profit of 44.44%.

These properties generated a total income (rent plus profit on sale) of £17,572,000 against a purchase price of £20,418,000.

The IRR on the completed property sales (after adjusting for secured borrowing costs) was 182%.

The detailed history is as follows:

  • The purchase and sale of New Bank House and Sovereign House was the first transaction carried out by Ace. On acquisition in October 2010, both properties were partially occupied with a number of individual leases to Sheffield City Council.
  • Ace successfully consolidated all the leases into one lease in New Bank House, which was subsequently sold fully occupied to an investor. This then released Sovereign House as vacant which was sold with vacant possession for conversion to student accommodation. The transaction was completed in January 2011 and the building was converted to student accommodation soon after.
  • In October 2011 the BT Tower in Sheffield, together with the adjoining car park, was bought for £6,500,000. In March 2014 the Tower was sold for conversion into student accommodation and we obtained rights for the first scheme under the new permitted development rights planning laws from offices to residential accommodation in Sheffield. In November 2015 the carpark was sold to Sheffield City Council for inclusion in its development programme. The total sale proceeds were £8,140,750.
  • Princegate House, Doncaster was purchased for £694,000 in December 2013. We obtained planning permission for two alternative residential conversions, both including an additional floor on the roof. The building was sold for £850,000, after enjoying rent of £283,000; the carpark was subsequently sold separately for £50,000.
  • Hillcrest House, Leeds was purchased in October 2013 for £1,450,000. This was held until October 2021 when it was sold for £2,300,000.
  • King House, Luton was identified as a good prospect for residential conversion when purchased in November 2014 at a price of £2,750,000. It was sold for re-development in February 2017 for £4,550,000.
  • Hume House Leeds was bought at auction in March 2014 for £1,675,000. Ace successfully obtained permission prior to lease expiry for its demolition and replacement with a detailed planning brief outlining consent for a 24-storey tower and the property was then sold with the planning brief in October 2018 for £3,900,000.
  • Bridge House, Dudley was purchased for £3,925,000 in April 2015. Ace enjoyed a rental income of £544,000 p.a. until the end of the lease in April 2021. It was sold in October 2021 for £5,100,000.
  • Willow and Holly Court, Plymouth was bought for £3,500,000 in December 2015 and was sold in December 2021 for £4,450,000.

This is, in effect, a brief summary of text from the website.
More points can be found in our presentation