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On behalf of private clients, Cooper Rose Real Estate has acquired the freehold interest in the Travelodge Hotel and Tesco Express located on The Strand, Liverpool for a price of £13,250,000.
The property occupies a prime position in the city close to the Liver Building and Albert Dock.
The property is let to Travelodge Hotels Limited on a 25 year lease from 6th February 2012 and Tesco Stores Limited for 20 years from 9th February 2012.
Contact Sammy Rose or Ben Rose.
On behalf of a private investor, Cooper Rose Real Estate has acquired the long leasehold interest in the Crowne Plaza Hotel, Birmingham for a price of around £1.4m. The property is let for another 242 years.
Contact Ben Rose or Giles Cooper.
On behalf of private clients, Cooper Rose Real Estate has sold a portfolio of retail warehouse investments in Germany for a price of around EURO 50,000,000. The terms of the off-market transaction are confidential.
Contact Ben Rose or Giles Cooper.
On behalf of The Charities Property Fund, managed by Savills Investment Management, Cooper Rose Real Estate has acquired the Jurys Inn investment in Brighton for a price of £28,230,000 in an off-market transaction.
The property occupies a prime position next to Brighton station.
The property is let for a term of 35 years from November 2005 at a rent of £1,570,000 per annum with rent reviews linked to RPI.
Contact Giles Cooper or Ben Rose.
On behalf of private clients, Cooper Rose Real Estate has today launched the sale of a prime food store investment In Bangor, North Wales.
The property comprises 18,272 sq ft across ground and first floors and includes a 41 space car park.
The property is let to Marks & Spencer plc on a 25 year lease from 25 March 2005 at a current rent of £356,400 per annum.
Offers are sought in excess of £6,740,000 reflecting a Net Initial Yield of 5.00% after taking into account purchaser’s costs of 5.80%.
Contact Ben Rose or Giles Cooper or our joint agents JLL.
OLIM Property Limited have bought five freehold bowling centres for £12,800,000 for their pension fund client, BAE Systems Pension Fund Trustees, from Columbus UK Real Estate Fund, L.P., managed by Schroder Real Estate Investment Management Limited. The properties, in Ashford, Peterborough, Shrewsbury, Torquay and Wellingborough, are let to The Original Bowling Company, trading as AMF, on leases expiring in 2035 with R.P.1.-linked increases. The average net initial purchase yield on the total rents of £1,006,995 from 13 August is 7.44%.
Tudor Toone, Montagu Evans and Wragge Lawrence Graham acted for the vendor and Kitchen La Frenais Morgan, Cooper Rose and Shepherd & Wedderburn for the purchaser.
Contact Ben Rose or Giles Cooper.
Cooper Rose Real Estate have today commenced trading from their new Manchester office, which will complement their established office in London. The office is located on King Street in Central Manchester. The full address is: 28 King Street, Manchester M2 6AY. Tel: 0161 832 3583.
Contact Sammy Rose.
On behalf of private clients, Cooper Rose Real Estate has acquired the Strike Portfolio for a price of around £12,800,000.
The portfolio comprises a number of bowling and leisure centre investments across the UK.
Further information to follow.
Contact Ben Rose or Giles Cooper.
On behalf of private clients, Cooper Rose Real Estate has today completed the sale of Butlers Wharf, Shad Thames, London SE1.
The property comprises a 17,733 sq ft restaurant across ground and lower ground floors, plus an outdoor seating area.
The property is let to Mitchells and Butlers Retail Limited (trading as Browns Bar & Brasserie) until 28 September 2028 at a current rent of £320,000 per annum.
The price achieved was in excess of the asking terms of £6,050,000, reflecting a net initial yield of 5%.
Contact Ben Rose or Giles Cooper or our joint agents Springer Nicolas.
McAleer & Rushe has sold a regional portfolio of Jurys Inn hotels to four separate purchasers for £80m reflecting a blended net initial yield of 6.9%.
McAleer & Rushe sold the freehold of the 170-bedroom Jurys Inn, Western Way, Exeter to LaSalle Investment Management for £16.5m.
A UK institutional client of Sladen Capital Partners has bought the long leasehold interest in the 310-bedroom Jurys Inn, 31 Keel Wharf, Liverpool for £29.25m.
The Charities Property Fund managed by Savills Investment Management (SIM) has bought the Jurys Inn hotel in Derby for £14.85m. The 213-bedrooms property is located in the Cathedral Quarter of the city.
The final hotel which was sold to a private investor for £20m is the 264-bedrooms Jurys Inn Station Street, Nottingham.
Rob Millar, director at Steerforth who advised McAleer & Rushe on the sales, said: “The company decided to take advantage of the strong regional hotel market in order to release capital for future development and investment activities.
Both the private investor and SIM were advised by Cooper Rose Real Estate. LaSalle was advised by HSM.
Contact Giles Cooper or Ben Rose.
On behalf of the AEW UK Core Property Fund, Cooper Rose Real Estate has acquired the long leasehold interest in 91/101 Lower Precinct, Coventry for a price of £3,250,000, reflecting a net initial yield of 11.34%.
The substantial 47,196 sq ft store is let to New Look Retailers Ltd until September 2026 at a current rent of £430,000 per annum.
The property forms part of The Precinct Shopping Centre.
Contact Giles Cooper or Ben Rose.
On behalf of private clients, Cooper Rose Real Estate has today launched the sale of a prime leisure investment In Butlers Wharf, Shad Thames, London SE1.
The property comprises 17,733 sq ft across ground and lower ground floors, plus an outdoor seating area.
The property is let to Mitchells and Butlers Retail Limited (trading as Browns Bar & Brasserie) until 28 September 2028 at a current rent of £320,000 per annum.
Offers are sought in excess of £6,050,000 reflecting a Net Initial Yield of 5.00% after taking into account purchaser’s costs of 5.80%.
Contact Ben Rose or Giles Cooper or our joint agents Springer Nicolas.
On behalf of private clients, Cooper Rose Real Estate has today launched the sale of a portfolio of four prominent, freehold car showroom investments, located in Nottingham, Stoke-on-Trent and Sutton Coldfield .
The premises are located in affluent areas, on major arterial routes with excellent roadside prominence.
The properties are let to or guaranteed by the Very Low Risk covenant of Pendragon Plc – the UK’s largest automotive retailer with 2014 revenues of £4 billion. Excellent Q1 2015 trading results show Pendragon’s underlying profit up by 10.4%
The unexpired lease term isapproximately 8.2 years.
The total passing rent is £660,774 per annum, equating to a low £9.72 per sq ft (104.63 per sq m) and subject to open market reviews in August and September 2018.
Offers are sought in excess of £10,400,000 reflecting a Net Initial Yield of 6.00% after taking into account purchaser’s costs of 5.80%.
Contact Ben Rose or Sammy Rose or our joint agents CBRE.
On behalf of separate clients, Cooper Rose Real Estate has acquired Jurys Inn hotel investments in Nottingham and Derby for a total price of around £35m.
Further information to follow.
Contact Giles Cooper or Ben Rose.
On behalf of Threadneedle Property Investments Ltd, Cooper Rose Real Estate has today completed the acquisition of the above distribution warehouse investment for a price of £7m, reflecting a net initial yield of 8.66% rising to 9.72% next July.
The property is let to the above tenant for a term of ten years from July 2011 at a current rent of £641,000 per annum with a fixed uplift next year.
The property totals 24,275 sq ft.
Contact Ben Rose or Giles Cooper.
Calendar Club had another successful year of Christmas trading in 2014 from the 298 sites Cooper Rose acquired on their behalf. The number of stores comprised 161 mall sites and 137 shop units.
This takes the total number of sites to over 3,000 in the 17 seasons that Cooper Rose director Ben Rose and his colleague Sammy Rose have been working as Calendar Club’s retained property advisors.
Calendar Club will be looking to acquire over 300 sites again later on in the year.
Please contact either Ben Rose or Sammy Rose with any opportunities you may feel are suitable.
On behalf of private investors, Cooper Rose Real Estate has today completed the sale of the above gym investment for an undisclosed price.
The property is let to Nuffield Health until 15 October 2035. The current rent is £341,650 per annum.
The property was constructed in 1999 and totals 32,675 sq ft.
The quoting price was £5,250,000, reflecting a net initial yield of 6.25%.
Contact Ben Rose or Giles Cooper.
On behalf of Cordea Savills, Cooper Rose Real Estate has commenced marketing a prime car dealership investment in Solihull, West Midlands.
The property is let to Rybrook Ltd, guaranteed by Rybrook Holdings Ltd, for a further 21.8 years. The current rent is £275,000 per annum.
The property benefits from 5 yearly, upward only rent reviews fixed to 2.5% per annum compounded.
Offers are sought in excess of £5,000,000, reflecting a net initial yield of 5.2%.
Contact Ben Rose or Giles Cooper or our joint agents FSP.
On behalf of private clients, Cooper Rose Real Estate has acquired the freehold interests in a supermarket and distribution warehouse for a total price of around £24m.
The properties are both let to Sainsbury's Supermarkets Ltd with 60 and 68 years unexpired.
The transaction was completed on an off-market basis.
Contact Ben Rose or Giles Cooper.
On behalf of AEW UK Core Property Fund, Cooper Rose Real Estate has acquired the freehold interest in School Brow Retail Park, Warrington for a price of £3.11m, reflecting a net initial yield of 8.5%.
The property comprises a three unit scheme let to Staples, Farmfoods and Dreams totalling 21,119 sq ft and producing an income of £279,538 per annum.
Contact Giles Cooper or Ben Rose.
