The Granite Portfolio
Price: £11,000,000 - Initial Yield:10.90%
Date: Q4 2011
Acting on behalf of Aberdeen Asset Management we advised on the disposal of this mixed use portfolio to Cording Capital for £11m, reflecting a net initial yield of 10.9%.
The portfolio comprises five offices, one multi-let industrial estate, one single let industrial unit and two mixed use buildings providing ground floor and self-contained offices above.
The properties are let to a total of 49 tenants with an average weighted unexpired term of 6.1 years to expiry (5.23 years to break). Passing rent of £2,022,341 p.a (after the deduction of head rents). The portfolio offers considerable asset management initiatives including the letting of vacant space, lease regears, refurbishment and development opportunities. Reversionary income upon letting of vacant space of £2,298,973 p.a (after the deduction of head rents).
Contact
Jeff Ellis
Tel:
020 7493 3330
Mob:
07775 582 719
jellis@lewisellis.co.uk
John Ellison
Tel:
020 7493 3330
Mob:
07889 437 236
jellison@lewisellis.co.uk
James Caddick
Tel:
020 7493 3330
Mob:
07771 882 860
jcaddick@lewisellis.co.uk
