Strutt & Parker Private Investors – A good start! (From Watford Observer)

Strutt & Parker Private Investors – A good start!

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6 July 2010, Sector: S&P Private Investors - Press release Strutt & Parker Private Investors has achieved several successes on behalf of clients recently, acquiring over £32m of assets on behalf of various clients including family trusts, a private equity fund and an overseas private investor.

Morewood Close, Sevenoaks was purchased for a private trust client for £3m providing a net initial yield of 8.00%.

The estate comprises 9 industrial units built in the late 1970s and provides 35,246 sq ft of industrial and office accommodation. The estate is multi let to five tenants and produces an income of £255,332 per annum.

The property was bought from Max Property plc in an off market transaction. Franc Warwick advised the vendor Units 1-9, Pelham Road, Central Park, Rugby was purchased for the same client for £2.29m, providing a net initial yield of 8.27%.

The estate comprises 9 modern industrial units, built in 2008. These units provide 63,018 sq ft of industrial and office accommodation. The properties are freehold and are currently let to five tenants producing a total income of £200,393 per annum. The property was bought from Highcross Strategic Advisors in an off market transaction.

Tower Court, York was purchased for another private family trust for £4.50m, providing a net initial yield of 10.6%. The property comprises a mix of retail, offices and medical centre. The property was bought from the Lazarus Group, a Yorkshire based property company, advised by Franc Warwick.

Hayloaders Works, Brill, Buckinghamshire was purchased for a Private Equity backed joint venture client, Aylesbury Vale Estates for £1.65m, providing a net initial yield of 10.25%. The estate comprises 9 storage units, is currently let to one tenant and is used as a timber yard. The estate has a very low site cover and offers significant development potential on the expiry of the current lease in 2012.

Imperial Buildings, 48-58 Kingsway, London was purchased for an overseas private investor for £20.7m providing a net initial yield of 6.05%. The building comprises a mixed use property, providing four retail units and offices above arranged over six floors (32,303 sq ft). It is fully let to 4 tenants, including Farrer & Co (80% of income) for a further 10 years and Mitchells & Butler (8% of income) for a further 13 years. The total current rental income is £1,325,500 per annum. The property was bought from CGIS Group Ltd advised by Michael Elliot.

S&PPI are actively looking for further properties both for these and other private investor clients. We are also about to launch a syndicated investment service.

For further information, contact Charles Lochrane, Poppy Winter or Dylan Tudor- Williams of Strutt & Parker Private Investors on 0207 318 4639