LSH IM BUYS PRIME SOUTH EAST RETAIL WAREHOUSE INVESTMENT

October 30, 2018

LSH Investment Management, acting on behalf of a retained client, has purchased from Travis Perkins plc a recently redeveloped retail warehouse investment at Langston Road, Loughton, which opened for trade in 2016. The freehold investment was acquired for £6.35 million at an initial yield of 4.95%.

The unit is in an excellent trading position, close to the recently developed ‘Open A1’ Epping Forest Shopping Park. Being within the M25 and accessed from Jct.5 of the M11, the location and significant catchment population has attracted such retail occupiers as Next, TK Maxx, Aldi and JD Sports, as well as high profile car dealerships for BMW/Mini, VW and Mercedes.

The Wickes unit provides the latest trading format for the DIY retailer with approximately 22,000 sq ft of ground floor sales and a 5,000 sq ft showroom mezzanine. Wickes have taken a lease for 15 years, without break, at a low initial rental of £14per sq ft, representing a significant discount to the levels achieved for Open A1 use on the neighbouring scheme.

Darren Screen, Property Finance Director for Travis Perkins said: “This latest sale of this recent development is in line with our stated Group objective of recycling capital back into the business“.

Chris Hornung, Managing Director of LSH IM commented: “The purchase of this excellent retail warehouse asset represented an attractive opportunity for us. The Wickes unit is let off a long lease to a secure covenant, whilst offering the prospect of good rental growth and investment performance.”

HSM and Herbert Smith Freehills advised Travis Perkins plc on the investment sale. LSH IM were advised by Northgate Property.

@PORTERFIELDPR

LATEST TWEETS

RT @GCWRetail: We have been instructed by Yo! Sushi 🍣 to provide lease advisory advice as well as to advise on the disposal of six sites ac…

@ PORTERFIELDPR

@PORTERFIELDPR

LATEST TWEETS

RT @WestBerkshire: The Northcroft Lido is almost ready to open for the summer! We've started filling it up today and hope to be able to ope…

@ PORTERFIELDPR

@PORTERFIELDPR

LATEST TWEETS

RT @Twinwag: So proud of my first piece in @TheDeveloperUK @festivalofplace on public consultation and whether the housebuilder can ever re…

@ PORTERFIELDPR

@PORTERFIELDPR

LATEST TWEETS

@JamesWallace78 @JamesDBuckley @hatcherdavid @ChrisReactNews @reactproperty The monkey hanger awakes!

@ PORTERFIELDPR

Latest News

THE BOUTIQUE WORKPLACE COMPANY GEARS UP TO OPEN NEW KINGS CROSS WORKSPACE

June 17, 2019 - 09:01

Flexible workspace provider The Boutique Workplace Company has launched its latest centre at 41-43 Chalton Street, in London’s King’s Cross. The 17,000 sq ft Connolly Works will provide 310 desks [...]

+ Read More

AVIVA INVESTORS SECURES TWO LETTINGS ACROSS EALING OFFICE PORTFOLIO

May 30, 2019 - 09:31

[...]

+ Read More

IV REAL ESTATE ACQUIRES 50,000 sq ft OFFICE ASSET IN BRISTOL CITY CENTRE

May 24, 2019 - 09:43

IV Real Estate, in partnership with an international fund, has announced plans to comprehensively refurbish and reposition two significant city centre buildings.  The developer and asset manager has [...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

2nd Floor, 20 Berkeley Square House London W1J 6BD