SALMON HARVESTER OPPORTUNITY FUND KICK STARTS A £150M INVESTMENT DRIVE

May 18, 2009

Salmon Harvester Opportunity Fund, has acquired Surrey House and Lever House, a 165,000 sq ft mixed use Investment in the centre of Kingston Upon Thames, from APIA Regional office Fund for £20,45m. This reflects an initial yield of 7.63% rising to over 10% on letting its vacant space.
This is the largest mixed use investment acquisition in the South East this year and the first purchase for the £150m Opportunity Fund, a joint venture formed by Salmon Harvester Properties with backing of NFU Mutual, to take advantage of the current market opportunities.
The properties, located in the heart of Kingston’s proposed extended shopping area comprise office, leisure and retail accommodation. The net passing rents total £1,650,223 p.a. with 47 % secured for the next 64 years and the rest from retail, leisure and the car park.

Matthew Meaden, Fund Manager of the Salmon Harvester Opportunity Fund said: “We are seeing evidence of the market bottoming out in certain property sectors. With our secure financial resources, we intend to undertake selective acquisitions in order to expand our business and position us for the recovery when it comes.”
“We were attracted to buying the buildings in Kingston because of the combination of secure income and huge potential for improvement through active asset management. The property lies within the K+20 Plan for the improvement of the town centre and we look forward to taking an active role in this project.”
Lever house was constructed in the early 1970’s and includes 76,000 sq ft of office space over six floors. The property was extensively refurbished in 2003 to offer well specified office accommodation and is let to Unilever for a further 64 years.

Latest News

ORFORD HOUSE, NORWICH COMES TO THE MARKET

March 2, 2021 - 12:32

GCW, on behalf of a private landlord, has launched a prime flagship building in Norwich to the market. The former Debenhams store, named Orford House, is available for sale or lease and is offered as [...]

+ Read More

H&M COMMITS TO LONG TERM FUTURE AT SOVEREIGN CENTROS’ ST. ENOCH CENTRE

March 2, 2021 - 10:58

Sovereign Centros has signed a new 10-year deal with leading fashion retailer H&M, for its 32,000 sq ft store at the St. Enoch Centre in Glasgow. H&M is the latest in a long line of tenants to[...]

+ Read More

IV REAL ESTATE TRANSFORMS TWO BRISTOL OFFICE BUILDINGS

March 1, 2021 - 10:01

IV Real Estate has completed the refurbishment of two prime office buildings in Bristol city centre. Practical completion of 41 Corn Street and the adjoining Gilbert House has now been reached followi[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR