Acquisition for BlueBird Land and their Investment Partner. The prime site offers potential for value creation through sustainable redevelopment into urban logistics space - perfectly in line with Blue Bird Land’s commitment to greener, low-carbon commercial environments.

Sale for Abrdn/UKCM REIT

67,000 sq ft office building

Acquired by Tri7

£14.5m

Sale for Aviva Lime Fund

152,570 sq ft office building

Acquired by GoldMoney Inc

£33m

Sale for CBRE IM

Comprises 375,295 sq ft (34,866 sq m) of mixed use accommodation providing restaurants, bars, offices, two hotels, retail units and museums within four buildings at Albert Dock.

Acquired by General Projects/Neo

£40m

Acquired for Glenstone REIT

Sale for Abrdn

16,555 sq ft office building with residential potential

Acquired by a Private Residential Developer

£2.9m

Sale for a Private Investor

A prime purpose built (2015) attractive well configured modern double fronted unit.

Acquired by a Private Investor

Sale for Paloma Capital

Six self-contained office units, totalling 16,724 sq ft

Redevelopment potential for alternative uses including residential, retirement living, or healthcare uses subject to planning.

Acquired by a Private Residential Developer

59,220 sq ft Car Dealership

Acquired for Realty Income REIT

Sale for Abrdn

29,345 sq ft three storey highly specified Grade A office building

£13m

Acquired for La Francais Real Estate

Two long let office buildings, Gilbert House and 41 Corn Street, with leisure uses at ground and basement totalling 36,557 sq ft.

£20m

In January 2022, Joiner Cummings acted on the sale of a leisure investment let to JD Wetherspoons in Abingdon on behalf of a private property company.

In December 2021, Joiner Cummings acted on the sale of City 7 in Sheffield on behalf of a client.

• Prime last mile urban industrial investment.
• Newly fully refurbished detached warehouse providing 59,864 sq ft on a large secure site.
• Highly strategic and established industrial and logistics location off Sheffield Parkway (A57), which provides excellent access to Sheffield City Centre and the M1.
• Let to the strong covenant of Ferraris Piston Service Limited, forming part of the substantial Alliance Automotive and Genuine Parts Group.
• Five year FRI lease (Outside the 1954 Act s. 24-28) expiring in July 2026, providing 4.9 years unexpired.
• Freehold 2.9 acre site.

In December 2021, Joiner Cummings sold Medina Trade Park in Hull on behalf of a client.

• Prime multi-let trade park let to leading national operators including Toolstation, Topps Tiles, Crown Paints and Formula One Autocentres.
• Exceptional highly established commercial location 2 miles north of Hull city centre with excellent prominence and extensive frontage onto Stoneferry Road, the inner-city ring road, providing significant passing traffic.
• Medina Park comprises a multi-let industrial trade estate of six units, totalling 34,713 sq ft on a well configured 1.7 acre freehold site.
• Attractive income profile with a WAULT of 7.9 years to lease expiry and 5.8 years to tenant break options.
• Secure and diverse income, with 87% attributable to national covenants.

In November 2021, Joiner Cummings acted on the purchase of the distribution warehouse on Britonwood Trading Estate in Knowsley on behalf of a client.

• Recently developed distribution warehouse let to a single tenant located in the established and strategic distribution location of Knowsley.
• Established industrial location with excellent access to the adjacent Junction 4/5 of the M57 and 12minutes’ drive from Junction 23 of the M6.
• The property was built in 2018 and provides a Gross Internal Area totalling approximately 90,805 sq ft.
• The property is let to Nagel Langdons Limited for a 20 year term expiring 9th December 2038 with no break options.
• The lease benefits from five yearly upward only rent reviews to the higher of open market rent and CPI linked annually compounded capped at 4% and collared at 1% with an upcoming rent review in December 2023.
• Held on a Long Leasehold basis at a peppercorn (both leases have over c.925 years unexpired).  

In August 2021, Joiner Cummings acted on the purchase of the Sainsbury's supermarket in Wimbledon on behalf of an institutional investor.

• Index linked, long income foodstore in South West London.
• The property comprises a purpose built foodstore and office building extending to 51,804 sq ft (4,812.75 sq m) GIA.
• The property is let entirely to Sainsbury’s Supermarkets Ltd on a full repairing and insuring lease expiring on 28th Sept 2042 (providing approximately 21.2 years unexpired).
• The property is underpinned by residential and commercial development opportunities.
• Freehold.

In August 2021, Joiner Cummings acted on the sale of The Spring Portfolio on behalf of an institutional fund.

• Four freehold multi-let industrial estates offering proven reversionary potential and numerous asset management opportunities.
• Central urban locations, which have exceptional population and economic growth expectations within 5 years.
• Total floor area (GIA) of 624,300 sq ft spread across 42 units.
• Let to 29 tenants, comprising a diverse and secure income stream including many well-known national covenants: Royal Mail, Screwfix, Howdens, and Topps Tiles.
• WAULT of 5.86 years to lease expiry (4.75 years to break).
• Sale price in the region of £50,000,000.

• Prime multi-let trade park in Sheffield.
• Exceptional position immediately off Sheffield Parkway (A57), the main dual carriageway into Sheffield city centre from the M1 (J33), and only 2 miles east of the city centre.
• City Parkway is a well configured multi-let trade park consisting of eight units providing a total gross internal area of 158,550 sq ft (14,729.65 sq m).
• Excellent security of income provided by a diverse mix of tenants with occupiers including Jewson, HSS, Europcar, Howdens and Pentagon Motors.
• Attractive income profile with an AWULT of 7.8 years to lease expiries and 7.3 years to earliest determination.
• Substantial site totalling 11.93 acres (4.83 ha) providing a low site cover of 25% and offering potential for higher density.
• Freehold.

In April 2021 Joiner Cummings acted on the sale of the former Buzz Bingo site in Banbury on behalf of an institutional fund.

• Strategic Town Centre Development opportunity in a rapidly expanding South East town.
• Former Bingo Hall and separate office building totalling approximately 34,296 sq ft (GEA).
• Highly prominent 1.2 acre site, allocated for high density development under the local plan.
• Potential uses included residential, supermarket, retirement living or healthcare uses subject to planning.
• Freehold.

In February 2021, Joiner Cummings acquired Childerditch Industrial Estate in Brentwood on behalf of a Local Authority.

• Reversionary South East multi-let industrial estate.
• Strategically located close to junction 29 of the M25 in the Borough of Brentwood.
• Substantial site totalling 17.30 hectares (42.75 acres), providing a very low site density of 12.5%.
• The property provides industrial and warehouse accommodation totalling 16,108 sq m (173,386 sq ft), in addition to extensive areas of secure open storage.
• Currently let to 27 tenants providing a WAULT of 4.14 years to expiries and 2.32 years to breaks.
• Freehold.

In October 2020, Joiner Cummings acted on the sale of the property on behalf of an institutional investor.

• A modern well let multi-let terrace of Greater London warehouse units.
• Property extending to 25,676 sq ft GIA with individual units ranging from 6,699 – 10,411 sq ft.
• Multi-let to three tenants with an attractive AWULT of 11.14 years to lease expiry and 7.73 years to earliest determination.
• Virtual Freehold.

In September 2020 Joiner Cummings acted for an Institutional Client on the forward funding of this long let Investment let to Aldi, Costa and Mid Counties Cooperative

In September 2020, Joiner Cummings acted on the sale of Waitrose in Canterbury on behalf of an institutional fund.

• Foodstore anchored convenience centre in a prosperous South East city.
• Located in the historic cathedral city of Canterbury, adjacent to the city centre and Canterbury College and Canterbury Christ Church University.
• Well configured purpose built supermarket and seven unit parade totalling 53,893 sq ft (5,006.82 sq m), along with extensive surface and basement level parking for 244 cars.
• Let to the 5A1 covenant of Waitrose on a 20-year lease, expiring 4th August 2031 (11.1 years unexpired) at a passing rent of £620,000 per annum, reflecting £14.93 psf.
• Total passing rent of £753,372 per annum, with 82% of the income secured against Waitrose.
• Attractive income profile with WAULT of 10.2 years to expiry.
• Extensive 2.16 acre freehold prominent corner site with excellent future potential for redevelopment at a higher density.

In September 2020, Joiner Cummings acquired the Lloyds Bank in Guildford on behalf of a private property company.

• Guildford is the historic county town and the principal administrative and commercial centre for Surrey with one of the most affluent populations in the UK.
• The town is regarded as a one of the premier retailing locations in the south east.
• Prime pedestrianised pitch on the busy, popular High Street, adjoining Anthropologie, with little out of town competition.
• An attractive Grade II* listed building comprising 17,272 sq ft (1,605 sq m) with an extensive frontage of 42 ft.
• Let to Lloyds Bank Plc (5A 1 covenant) for a further 6.7 years unexpired.
• Freehold

In January 2020, Joiner Cummings acted on the acquisition of the DHL unit at Magna Park on behalf of CCLA.

• Located on Magna Park Lutterworth, one of the UK’s premier logistics parks.
• High specification distribution warehouse totalling 159,956 sq ft.
• Fully let to DHL Supply Chain Ltd
• Unexpired term of 5.10 years to expiry (3.10 years to break).
• Virtual Freehold.

In December 2019, Joiner Cummings acted on the acquisition of Goldstone Retail Park on behalf of an institutional fund.

• The property is currently a well configured and established retail scheme, built in 1998 and totalling 82,000 sq ft across 5 retail warehouse units, together with 2 pod units.
• The site extends to 5.5 acres (2.2 hectares).
• The park is let on a WAULT of 5 years to a mix of national multiples including; TK Maxx, DFS, Pets at Home and Harveys off sustainable rents, together with a vacant 26,000 sq ft unit and 2 pods let to Burger King and Nando’s.
• Unique opportunity to undertake a comprehensive and,significant residential led mixed use redevelopment.
• Indicative studies suggest potential for scheme of c. 800 units, with the ability to create taller landmark elements.
• Potential to include a mix of residential tenures/uses including Private For Sale, Build to Rent, Student Accommodation and Care Homes, optimising the cashflow profile and driving development returns.

In September 2019 Joiner Cummings acted on the sale of Travelodge in York on behalf of an institutional fund.

• The property is centrally located in York: within 10 minutes’ walk of the railway station and all the main visitor attractions in York.
• High quality building and purpose designed hotel with generous provision of amenity accommodation and ample proportions for the reception, restaurant, bar, meeting and storage rooms. There are a total
  of 104 bedrooms over 3 upper floors.
• The hotel is let to Travelodge Hotels Ltd with over 29 years unexpired.
• Travelodge have recently refurbished the hotel and rebranded as a Travelodge Plus, one of only seven in the UK.
• The rent is reviewed every 5 years, upwards only, in line with uncapped RPI. The next rent review is March 2020.
• Travelodge are paying a current rental of £700,914 per annum, which reflects £6,740 pa per key. In line with RPI since the last review in 2015, the underlying rental has risen to £790,930 per annum, reflecting
  £7,605 pa per key.
• The investment includes a ground floor restaurant and retail unit in an established and prominent pitch. Both units are let with an average unexpired term of 5.25 years (2.4 years to break) and a total passing
  rent of £110,000 per annum (12.2% of the total income).
• The average unexpired lease term weighted to income is 25.9 years to expiry (25.5 years to break).

In April 2019 Joiner Cummings acted on the sale of 12-27 Swan Yard on behalf of Aviva.

• Prime City Fringe office building totalling 10,428 sq ft.
• Excellent location, 2 minutes walk from Highbury & Islington Station.
• Strong local amenity with plentiful shops, restaurants, pubs, bars and leisure on Upper Street.
• Well specified Headquarters building constructed in 2002 providing modern, air conditioned office accommodation arranged over lower ground, ground and two upper floors.
• Let to Wowcher Limited with a guarantee from DMG Media Ltd (5 A1) with a weighted income of 6.14 years to expiry and 1.14 years to (Landlord or Tenant) break.
• Current passing rent of £367,587 per annum exclusive, equating to £35.25 per sq ft overall.
• Recent feasibility has identified the potential to enhance/vary the previous mixed use planning consent, to extend the building by up to a further £5,430 sq ft.

In Q4 2018 Joiner Cummings acted for Aberdeen Standard on the sale of St Georges House East, Wimbledon. The property was purchased by an Institutional Fund ahead of quoting terms.

In July 2018 Joiner Cummings acted on behalf of Aberdeen Standard Investments on the sale of Travelodge in Heathrow Terminal 5.

Investment Summary

• Purpose built 297 bedroom hotel with substantial on-site parking for 151 vehicles.
• Let to Travelodge Hotels Limited for a remaining 20 years term certain.
• Current rent of £2,148,400 pa.
• 5 yearly upwards only rent reviews linked to the higher of RPI (uncapped) or market rent.
• Prominently located adjacent to Junction 14 of the M25 London Orbital Motorway and 1.5 miles from Heathrow Terminal 5.
• Heathrow is the busiest airport in Europe and the anticipated ‘Third Runway’ is expected to significantly increase hotel demand with capacity increasing from 85 million passengers to 130 million.
• Freehold.

In June 2018 Joiner Cummings acted on behalf of Aviva Investors in the sale of two South East office buildings.

• Two Prime South East office buildings totalling 39,366 sq ft
• Well located in Three Bridges, a major suburb of Crawley within 3 miles of Gatwick Airport.
• Situated within 500m of Three Bridges Station, with frequent fast train services to Central London, Gatwick Airport and the South Coast
• Excellent local amenities including a 24 hour Tesco supermarket, Lidl and Iceland and nearby Town Centre
• Fully let to EDF Energy and UK Power Networks with a WAULT of 3.61 years to expiry and 1.95 years to break,
• Current rent of £679,000 per annum equating to a low average rent of £17.13 per sq ft.
• 151 car park spaces providing an excellent ratio of 1:263 per sq ft.
• Potential to re-gear leases or convert to residential to provide 60 apartments under permitted development.
• Large site affording the potential for future extension.

In March 2018 Joiner Cummings acted for a private client on the sale of Worcester Trade Park, the dominant trade park in Worcester

• Freehold purpose built 60 bedroom residential care home
• Let to Anchor Trust, a leading not-for-profit healthcare provider.
• Acquired for an institutional pension fund.

In December 2017 Joiner Cummings acted for Aviva on the sale of two Prime West London Industrial Investments located 3 miles(5km) south of Heathrow Airport.

In Q3 2017 Joiner Cummings acted for BMO Global Asset Management on the sale of Beacon House, Wimbledon.

• Wimbledon is an affluent residential area and major office centre in South West London with excellent multimodal transport connections to Central London.
• Located in the heart of Wimbledon only 300 metres (3 minute walk) from Wimbledon station and The Broadway.
• Highly prominent corner position, being situated at the junction of Worple Road and Francis Grove.
• Beacon House comprises a 12,666 sq ft NIA (15,465 sq ft GIA) freehold o ce building over ground and three upper floors benefitting from basement car parking.
• Potential to agree a surrender of ground and part first  floor (4,646 sq ft) subject to separate negotiation to achieve full vacant possession.
• Excellent potential for residential conversion, office refurbishment or complete redevelopment for an office or residential scheme.
• Prior approval granted for a change of use to residential for a 17 unit and 12 unit scheme.
• Beacon House is located immediately outside the Article 4 Direction which covers most of Wimbledon centre.
• Wimbledon residential capital values are up to £1,500 per sq ft.
• Prime office rents in Wimbledon £54.00 per sq ft with highly restricted supply.

In October 2017 Joiner Cummings acted on the sale of Travelodge Brighton Seafront on behalf of Aberdeen Standard Investments.

Acting on behalf of Aberdeen Asset Management, Joiner Cummings acted on the sale of First Point to Gatwick Airport in January 2017 for £18.3m, equating to 7.29% NIY.

• Prime South East multi-let office investment located adjacent to Gatwick Airport, within walking distance of the terminal buildings.
• Highly specified Grade A building totalling 62,028 sq ft which has recently been significantly refurbished at a cost of £3.1m.
• Excellent proximity to Gatwick Airport, the M23 and M25 motorways and access via train to central London within 30 minutes.
• 92% let to 5 tenants on 6 leases providing and attractive WAULT of 7.2 years to expiry 4.2 years to break.
• Currently producing £1,423,451 per annum reflecting an average rent on let space of £22.55 psf. Latest deals reflect up to £24.60 psf with £26.00 psf being promoted on the vacant element.
• Strong tenant profile from a good balance of airport related users and large  corporates
• Major tenants include HSBC, Close Asset Management, Norwegian and Amadeus.
• Outstanding parking provision of 270 spaces reflecting a ratio of 1:230 sq ft.
• Freehold.

In December 2016 Joiner Cummings acted for Burgess Estates on the sale of the ground floor retail unit let to Tesco having originally advised on the site acquisition.  

In November 2016, Joiner Cummings acted on behalf of Rockspring, on the sale of Ash & Birch Industrial Estate in Swindon.

• Modern multi-let industrial estate in a core M4 corridor location. Ash and Birch form part of Kembrey Park, one of the principle employment locations in Swindon. Major occupiers on the park include G4S, Nationwide, Goedis Wilson and Honda.
• The combined estate comprises 35 modern units providing a total gross internal area of 159,677 sq ft (14,834 sq m) with unit sizes ranging from 743 sq ft to 24,562 sq ft (69 sq m – 2,282 sq m).
• Freehold.
• Multi let to 33 tenants providing a total rental income of £857,826 per annum (including top-ups and rental guarantees), reflecting a low overall passing rent of £5.62 per sq ft for the industrial units and offering strong prospects for rental growth.
• The property offers an attractive income profile with an AWULT of 6.0 years to lease expiries and 4.6 years to earliest determination.
• Total site area of approximately 10.33 acres (4.18 hectares) which reflects a low site density of 35%.
• Active asset management opportunities to drive the rental value, including letting vacant units, progressing rent reviews and lease renewals.

In March 2015 Joiner Cummings acted on the site acquisition and funding of a speculative warehouse, the unit was subsequently let to Amazon and sold by Joiner Cummings in July 2016 for an undisclosed sum.

• Prime distribution warehouse opportunity.
• Situated on Trafford Park - the principal industrial and distribution location in the North West.
• Completed in 2016 to an institutional specification with a gross internal area of 176,080 sq ft (16,359 sq m) on a site of 8.5 acres (3.43 ha).
• High specification including 15m clear height, 24 dock level and 3 surface level loading doors and a yard depth of 50m.
• Freehold
• Let to the D&B 5A1 covenant
• The rent is reviewed at the end of the 5th year of the lease in line with CPI with a collar and cap of 2% pa compound and 3% pa compound.

In February 2016, Joiner Cummings advised Hermes on the purchase of an established multi-let industrial estate occupying a highly prominent position in Poole.

• Fleets Corner comprises a mixture of warehouse/industrial buildings and offices providing a total gross internal floor area of 531,682 sq ft and on a 27.25 acre site.

• The estate is home to a number of large multi-national companies including retail brands such as Lush and Animal, as well as other occupiers, Orca Book Services, Selco Builders Warehouse and Creditplus.

In December 2015, Joiner Cummings acted for LaSalle Investment Management on the site purchase and funding of a pre-let 130,000 sq ft Grade A office Development Funding on Flemming Way, Crawley. The property is pre-let to Elekta for 20 years.

In October 2015, Joiner Cummings advised Tesco Pension Fund on the sale of 32 Goldsworth Road, a vacant office building in Woking town centre with redevelopment potential, to a residential developer.

• Located in Woking Town Centre, 5 minutes walk from Woking Station and within walking distance of all town centre amenities.
• The building provides 46,383 sq ft of modern office accommodation over lower ground, ground and three upper floors and occupies a large 1.25 acre freehold site.
• The property was sold with vacant possession and offered excellent
  potential for refurbishment, redevelopment or change of use to Residential.

In July 2015, Joiner Cummings acted on behalf of an institutional fund on the sale of a portfolio of three offices including Silbury House, Milton Keynes

• Prominent town centre office investment let to National Westminster Bank Plc.
• Modern 24,942 sq ft office with an excellent specification.
• Rare car parking provision of 36 spaces within ownership.

In July 2015, Joiner Cummings acted on behalf of Aberdeen Asset Management on the sale of a long let industrial investment in Hayes, London.

• West London freehold industrial investment.
• Exceptional location 3 miles from Heathrow Airport and Hayes is set to bene t from Crossrail services in 2019 and significant regeneration.
• Large well configured site totaling 3.75 acres providing excellent potential for future redevelopment at a higher density (current site cover of 16.00%) or alternative uses.
• Strategically important site for the tenant servicing London and the Home Counties.
• Let to Hendricks Lovell Ltd with a guarantee from Grafton Group Plc (D&B 5A 2) who have a turnover of £2.08bn, pre-tax pro ts of £101m and shareholders’ funds of £902m.
• Let off a low reversionary rental base.

In July 2015, Joiner Cummings acted on behalf of an institutional fund on the sale of a portfolio of three offices including Persimmon House, Dartford.

• Freehold M25 office investment located on Crossways Business Park, a major growth area within the Thames Gateway.
• Well specified office building extending to 14,957 sq ft with an extensive car parking provision of 83 spaces reflecting a ratio of 1:180 per sq ft.
• Let to Westbury Homes (Holdings) Limited, a wholly owned subsidiary of the FTSE 250 house builder Persimmon Plc.

In July 2015, Joiner Cummings acted on behalf of an institutional fund on the sale of a portfolio of three offices including The IT Centre, York.

• The IT Centre comprises a well specified 25,666 sq ft single let office on York Science Park.
• York Science Park is located adjacent to the University of York and benefits from close connections to the University’s world leading research facilities.
• The IT Centre is let to York Science Park with a guarantee from the University of York.  

• Central Croydon’s only dedicated leisure scheme.
• Located on High Street, 50 metres from North End Croydon’s principal pedestrianised shopping street and conveniently accessible for numerous bus and tram routes through central Croydon.
• Highly accessible location 2-3 minutes’ walk from The Whitgift Centre and Centrale, soon to be Westfield.
• Prominent modern purpose built 160,840 sq ft leisure scheme comprising:
• Virgin Active Health Club with 20m pool
• 10 Screen Multiplex VUE cinema
• Tiger Tiger and Reflex bar/nightclub
• Lloyds No 1 bar and restaurant
• Nando’s restaurant
• Vacant restaurant unit
• Let to 6 tenants on 7 leases producing an income of £2,830,636 per annum with contracted rental uplifts in March 2017 to £3,069,836 and March 2022 to £3,347,134.
• Excellent income security with 82% of rental income from D&B 5 A1 rated covenants.
• Highly attractive long term income with 12.36 years
• AWULT with no break clauses.
• Croydon is an exciting growth location with a proposed capital investment programme of over £5bn, with over 9,500 new homes expected over the next 5 years.
• Numerous asset management opportunities to enhance the scheme.
• Excellent provision of local town centre car parks.
• Seeking offers in excess of £34,525,000 (thirty four million five hundred and twenty five thousand pounds), subject to contact and exclusive of VAT.
• Attractive net initial yield of 7.75% with an anticipated reversion on letting vacant unit to 7.88% with further fixed rental increases (VUE fixed uplift) in March 2017 to 8.53% and in March 2022 to 9.29%, after purchasers’ costs of 5.8%.

In March 2015, Joiner Cummings advised CCLA on the purchase of the Iceni Centre, a prominent headquarters office building on Warwick Technology Park.

• Warwick Technology Park is Warwick`s principal and established out of town office park on the northern M40 Corridor.
• Developed in 2000, the Iceni Centre is a headquarters office building totalling 75,270 sq ft across three floors with 392 parking spaces, which provides an excellent parking ratio of 1:192 sq ft
• Freehold
• The property is multi-let to excellent tenants including Siemens Plc, Rolls-Royce Plc and Alliance Medical Ltd.

• Prime South East Headquarters Office investment located in the affluent town of Burgess Hill.
• Burgess Hill is a growth town which is strategically located adjacent to the A23 (M23) connecting Brighton to Gatwick Airport and the M25 motorway and central London.
• Highly specified grade A headquarters office building, totalling 79,742 sq ft (7,408 sq m), set in an attractive secure site.
• Extensive fit out including a full height function space, ground floor coffee bar and restaurant, VIP dining rooms, a gym, customer training areas and showrooms.
• Excellent parking provision of 300 spaces reflecting a ratio 1:266 per sq ft.
• Let to Roche Diagnostics Limited on a 15 year FRI lease expiring in June 2021 (6.7 years unexpired).
• Current rent of £1,586,583 per annum (£19.90 per sq ft overall) with a fixed uplift in June 2016 to £1,803,850 per annum (£22.62 per sq ft overall).
• Roche Diagnostics Limited (D&B 5 A1) are a wholly owned subsidiary of Roche Holdings AG.
• Rental guarantee for the duration of lease from Deutsche Bank AG.
• Freehold.
• Large site affording the potential for future extension.
• Offers are sought in excess of £17,925,000 (seventeen million, nine hundred and twenty five thousand pounds) subject to contract and exclusive of VAT reflecting a net initial yield of 8.37%, with a fixed uplift in June 2016 to 9.51% assuming purchaser’s costs of 5.80%.

In January 2015, Joiner Cummings acted on the sale of 2 The Arena, Bracknell on behalf of Aberdeen Asset Management for £15.425 million reflecting a net initial yield of 7.00%.

• Prime position in central Bracknell
• Prominent Headquarters of  building located opposite Arlington Square.
• The property which totals 66,541 sq ft has an excellent specifation which includes air conditioning, raised floors, category 2 lighting and suspended ceilings
• Extensive car parking provision of 254 spaces (1:265)
• Let in its entirety to IGE Energy Services (UK) Ltd (D&B 5 A1) who are a wholly owned subsidiary of General Electrics who have a market capitalisation of circa $260bn
• 10.1 years until lease expiry, 5.1 years until break
• Re-based rental level, with income reflecting £18.00 psf
• Freehold

‍

• Well established Business Park located within the main commercial area of Basingstoke
• 5 self-contained buildings (Numbered Intec 1-5) providing a total of 225,861 sq ft of office and light warehouse accommodation
• Flexible affordable accommodation ideally placed to target start up business through to HQ type occupiers
• Excellent prominence to Wade Road, with surrounding uses including offices, industrial and residential
• Let to 22 Tenants on 24 leases producing a net income after leasehold gearing (15%) of £492,470 per annum (before shortfalls)
• A significant 13 acre land holding with asset management and development potential
• Offers sought in excess of £5,165,000, subject to contract and exclusive of VAT providing a low capital value of £30.00 psf

In October 2014, Joiner Cummings advised on the acquisition of a prominent 258,230 sq ft distribution warehouse together with open storage land in Worthing.

• Freehold Office Investment let to CCCU
• Acquired for St Andrews Life Assurance Plc for £5.115m

• Prominent City centre office building located in central Nottingham.
• Well specified four storey building totalling 68,106 sq ft benefitting from comfort cooling, raised floors and suspended ceilings.
• Excellent car parking provision of 164 spaces. (ratio 1:415 sq ft).
• Currently fully let on 3 leases producing a rental income of £951,186 per annum. UPS are consolidating to the 2nd floor in May 2014, providing asset management potential by letting the 3rd floor.
• Strong tenant covenants of Gala, UPS and Telefonica.
• AWULT 3.5 years to expiry/3.14 to break.
• Canal side location and configuration of existing building offers excellent change of use potential to residential or student accommodation on lease expiry.
• Freehold.
• We are instructed by our client to seek offers in excess of £6,300,000 (Six Million Three Hundred Thousand Pounds) subject to contract and exclusive of VAT.
• Attractive net initial yield of 10.96% (assuming May 2014 reduced rent of £730,686), based on purchasers costs of 5.80%.

Worton Court, Reading

In March 2014, Joiner Cummings acted on behalf of Lloyds Bank Pension Fund on the acquisition of the Rex Building located in the City core for £57.75m.

In December 2013, Joiner Cummings acted for Aviva Investors on the sale of this iconic Manchester office investment.

• Located immediately adjacent to Spinningfields, Manchester’s prime office quarter.
• Providing a total area of 214,004 sq ft, with expansive 10,000 – 14,000 sq ft office floor plates.
• Let to 19 tenants with excellent income security from strong tenant covenants.
• Numerous asset management opportunities including speculative refurbishment, lease re-gears and management of vibrant and expanding tenant base.

• Major regional multi-let industrial estate
• Sold on behalf of The Clerical Medical Insurance Group Limited for £19.95m

• Multi-let modern trade counter investment, Purchased on behalf of St Andrews Life Assurance Plc for £6.1m

• Freehold Office Investment located in Marlow Business Park, a prestigious South East office location.

• Walking distance to Marlow station and attractive amenities of Marlow town centre.

• Two modern headquarters buildings constructed in 1991 totalling 39,095 sq ft with excellent parking provision.

• The configuration of the buildings with excellent natural light, raised floors, air conditioning and lifts offer a strong platform or refurbishment to achieve enhanced rents and benefit from the shortage of supply of Grade A accommodation locally.

• Short term lease expiry and fully costed refurbishment scheme offers the potential for a purchaser to deliver Grade A accommodation with 12 months.

• Fully let to Renew Holdings Ltd until September 2013 producing £852,000 pa (equating to £21.80 psf).

• Offers for the freehold are sought in excess of £3,470,000 (three million, four hundred and seventy thousand pounds), subject to contract and exclusive of VAT, which shows a capital value of £90 psf and an attractive net initial yield of 23.20% assuming purchasers costs of 5.80%

• The largest industrial estate in Worcestershire, Sold for Valad Property Group for £46.5m
• The Hartlebury Trading Estate is the largest industrial  estate in Worcestershire and one of the largest continuous single industrial ownerships in the Midlands with a total site area of 180 acres.

• The trading estate comprises 182 units let to 85 businesses which employ circa 2,500 people.
• The trading estate is strategically located 23 miles south of Birmingham, 74 miles north of Bristol and 130 miles north west of London.
• The estate has excellent road communications being only 7.5 miles north west of junction 5 and 11.5 miles from junction 6 of the M5 motorway.
• The estate has a total oor area of 1,432,762 sq ft of which 96% is industrial use with individual unit oor areas ranging from 563 sq ft – 111,360 sq ft.
• Hartlebury Trading Estate is owned freehold and is let to a total of 85 tenants under 99 leases. The average weighted unexpired lease term to expiry is 5.72 years and to break is 4.07 years.
• The total rent reserved under the leases is £4,851,394 pax  re ecting an average industrial rent of £3.61 per sq ft (including top ups) and an average of ce rent of £9.13 per sq ft. We consider the ERV of the 182 commercial buildings to be £5,619,969 pax.
• Low void rate of circa 9.7%.
• Valuable in built reversions over the next 12 months.
• The tenants are a mix of local, regional and national companies.
• The property offers a purchaser numerous asset management opportunities including: 
  • Letting of vacant units. 
  • Negotiating the removal of tenant break options. 
  • Relocating tenants within the extensive ownership. 
  • Extending existing lease terms. 
  • Development.

• RBS Head Quarters Office Building, Sold for HIFML UK Property Fund Plc for £6.8m
• An investment opportunity offering almost 9 years of income secured by the international banking covenant of Royal Bank of Scotland PLC.
• „Central South Yorkshire location bene ting from being highly accessible and conveniently located in close proximity to an area providing a large and increasingly skilled workforce.
• „An established mixed use commercial business park with a number of high pro le occupiers.
• „Comprising a three storey of ce building and total net lettable area of 6,246 sqm (67,230 sqft). The of ces are well speci ed providing air conditioning and raised oors and bene ting from exible accommodation of three wings arranged around a central core.
• „Entirely let to Royal Bank of Scotland PLC until 16 July 2021 (8.8 years unexpired) at a passing rent of £860,814 per annum (only £12.80 per sqft overall).

• 3 Modern High Specification HQ Office Buildings with short term break option
• Sold for St Andrews Life Assurance Plc for £14m

In January 2013, Joiner Cummings acted on the site acquisition and funding of a Premier Inn development in Cambridge on behalf of an institutional fund.

• Major provincial multi-let industrial estate, Sold for Valad Property Group for £11.85m
• Newton Aycliffe Industrial Estate forms part of the Aycliffe Business Park which is the second largest industrial estate in the North East region.
• Aycliffe Business Park is a key component of the North East economy extending to 672 acres and is the home of 250 companies employing 8,000 people.
• Aycliffe Business Park has recently been boosted by Hitachi Trains decision to build a new 450,000 sq ft facility on the Park.
• The industrial estate has excellent communication links being situated adjacent to jct 59 of the A1(M).
• The investment offering comprises 84 units with a total gross internal floor area of 658,007 sq ft with individual unit floor areas ranging from 1,046 sq ft – 56,107 sq ft.
• The estate includes development sites totalling 18.85 acres.
• The estate is let to a total of 47 tenants with 19 vacant units.
• The total rent reserved under the leases is £1,744,041 pax (£3.17 per sq ft). We consider the current ERV of the 84 units to be £2,125,424 pax (£3.23 per sq ft).
• The tenants are mix of local, regional and national companies.
• The property offers a purchaser numerous asset management opportunities including:
  • refurbishment and letting vacant units
  • negotiating the removal of tenant break options
  • relocating tenants within the extensive ownership
  • extending existing lease terms
  • development sites

• Well specified distribution warehouse totalling 184,348 sq ft providing high bay warehouse accommodation with ancillary offices on ground and 1st floors.
• Located in the popular Oldham Broadway Business Park at Junction 21 of the M60 Motorway with excellent transport links.
• Clear internal eaves height of 12 metres with 18 electrically operated doors with dock levellers and 2 surface level entry doors.
• 50 metre deep secure service yard, with access via an independent gatehouse.
• Let to Great Bear Distribution Limited on FRI terms for a term expiring on 15 January 2020 providing 8.4 years unexpired.
• Great Bear utilise the property for distribution of liquids, cosmetics, skincare products and drinks.
• Rent passing is £737,392 pax (£4.00 psf) and is subject to review on 15 January 2015 with a minimum uplift to £829,566 p.a. reflecting £4.50 psf.
• Seeking offers in excess of £9,000,000 (nine million pounds) which reflects a net initial yield of 7.74% and a minimum reversionary yield from 15 January 2015 of 8.71% after deducting purchaser’s costs at 5.8%.

• Prominent HQ office building sold following the negotiation of a lease re-gear for 10 years, Sold for Lloyds Bank Pension Fund for £19.7m
• Prominent headquarters office building located in central Reigate.
• Producing a rental income of £1,504,000 per annum, which reflects £21.35 per sq ft on block A and £21.38 per sq ft on block B.
• Reigate is an established M25 office market, with a historically low grade A vacancy rate.
• Excellent car parking provision of 230 spaces. (ratio 1:298 sq ft)
• The property which totals 73,936 sq ft has an excellent specification which includes air conditioning, raised floors, category 2 lighting and suspended ceilings.

Vauxhall

Waitrose, Sanderstead

• Huddersfield is a major commercial centre in the county of West Yorkshire approximately 22 km (14 miles) west of Leeds, and 33.5 km (21 miles) east of Manchester, and is situated within the ‘M62 corridor’.
• The town has a primary catchment of 295,000 persons and a retail catchment in excess of 424,000 people within a 20 minute drive time of the centre.
• The scheme is situated in a highly prominent and accessible position fronting the A62, Leeds Road, one of the principle routes into the town centre from the north.
• Modern, well laid out and configured retail park comprising 156,814 sq ft arranged as 10 retail units together with car parking for 760 cars (ratio 1:206 sq ft).
• Open A1 non-food planning consent.
• The scheme is anchored by Next, Mothercare, Boots, Sportsworld and a large Homebase with other retailers including, Pets at Home, Carpetright, JJB Sports and Holiday Hypermarket.
• Freehold.
• Fully let with an average weighted unexpired term in excess of 12 years.
• Passing rent is £2,766,435 pa, including rental guarantee, which reflects a low average rent of only £18.15 per sq ft.
• Offers are invited at a price in excess of £43.6 million (Forty Three Million Six Hundred Thousand Pounds), subject to contract and exclusive of VAT for the freehold interest. Assuming standard purchaser’s cost at 5.7625%, this reflects a net initial yield of 6.00%.

A balanced portfolio of 18 institutional grade properties, sold for a UK pension Fund for £86.5m comprising:

• 18 properties throughout the UK
  
• 3 Retail Warehouses
  
• 7 High Street Retail properties in prime pitches
  
• 1 Freehold West End office and restaurant
• 5 multi-let Industrial Estate
• 2 single let Industrial properties
• 55 tenancies producing a current income of approx £6.2m pa.
• Average unexpired lease term in excess of 14 years

House of Fraser, Leeds

Funding and acquisition on five UK dealerships.

• Trophy central London portfolio of 31 properties including the multi-let ‘ Market’ building in The Piazza
• Sold for Scottish Widows Investment Partnership & Henderson Global Investors for £420m

• Prime Midtown office let to the UK Government for a further 19.5 years
• Sold on behalf of The Glen Kingsway Unit Trust for £58.5m

The £712m acquisition of 79 UK properties comprising the entire Guardian Assurance direct property investment fund for Scottish Widows.