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Examples of commercial investment property sales and acquisitions we have undertaken for some of our property investment clients in recent weeks include:
 West End Team Maintains Momentum
15-25 Davies Street and 53-54 Grosvenor Street, Mayfair, W1
The West End Investment Team has completed the sale of two prime, prestigious Mayfair assets for £51m:
- 15-25 Davies Street, home to the world famous Cipriani restaurant, comprises 16,200 sq ft of retail, restaurant and office accommodation, with ancillary luxury residential apartments on the upper floors
- The adjoining 53-54 Grosvenor Street is a highly specified grade A office building comprising 22,400 sq ft and is let to 9 tenants including Cipriani, Richemont International, DekaBank and Excellion Advisors
In the first 3 months of the year the West End team completed £250m of deals and also went under offer on £170m of sales. Jones Lang LaSalle's West End team currently has further £350m of sales in the market. For an up to date briefing and to discuss market activity please call Damian Corbett on +44 (0)20 7399 5286.
High Street Retail Team Leads Market
NewRiver Retail, various UK locations
- On behalf of NewRiver Retail, Jones Lang LaSalle has acquired a 400,000+ sq ft portfolio of nine retail assets, for a price of £49m reflecting a net initial yield of 9%
- Let to over 100 tenants, the properties are located in Andover, Canterbury, East Ham, Glasgow, Huddersfield, Norwich, Shrewsbury, Widnes and Wrexham
- The average unexpired lease term is seven years
The high street retail investment team has continued to outperform in a particularly competitive market and remain leaders. The NewRetail acquisition demonstrates the team’s ability to source off-market opportunities and act quickly and efficiently, producing excellent results for clients. Elsewhere, the team has acquired and sold in locations such as Cheltenham, Islington, Chatham, York, Manchester, Brentwood, St Albans, Bromley, Nottingham and Hull. Clients include LaSalle Investment Management, Prudential, CBRE Investors and Threadneedle. For more information contact Adrian Peachey on +44 (0)20 7318 7846.
City Team Remains No 1
Finsbury Square, London, EC2
- Award winning, modern headquarters building on the eastern side of Finsbury Square, sold by Jones Lang LaSalle on behalf of Aberdeen Property Investors
- Single let to Invesco until November 2022 at a rent of c£45.00 per sq ft overall
- Sale price in excess of £100 million reflecting a net initial yield of c5.6%
The Jones Lang LaSalle City team has maintained last year's number one position with a market leading share of 20% in the first four months of 2010. The City team is currently openly marketing over £500 million of investment sales in the City giving the team up-to-date and intricate knowledge of the key buyers in today’s market. For more information, please contact Julian Nairn on +44 (0)20 7399 5865.
National Office Investment Team Delivers Record Regional Sale
No.3 Hardman Street, Spinningfields, Manchester
- Acting on behalf of Allied London Properties, Jones Lang LaSalle completed the sale of this prestigious 350,000 sq ft Grade A office building for £183.5 million, a record sale for out of London
- Reflecting a net initial yield of 6.1%, the property was purchased by Aerium for its Glenn Arrow UK Property Fund and is its first acquisition in the UK regions
- On behalf of Ballymore Properties the National Office Investment team has also sold No1 Snowhill in Birmingham for £126m
The National Office Investment team has been at the forefront of the investment market upturn, taking a high percentage share of the out of London investment market including 42% of the South East office market in 2009. The team continues to provide unprecedented knowledge to clients on both acquisitions and disposals, and is currently advising clients seeking to dispose of properties in Watford, Reading, Slough, Staines, Manchester, Birmingham and other major UK towns and cities. For further information contact Mark Wilson on +44 (0)20 7399 5874 or Jonathan Mills on +44((0)161 828 6460.
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Out of Town Retail and Leisure Investment Team are Market Leaders
J Sainsbury's at Hayes, Otley and Wantage
- Acting on behalf of J Sainsbury's, the Out of Town Retail Investment team has sold three food superstores in Hayes, Otley and Wantage
- The freehold stores, sold on a sale and leaseback basis, total approximately 220,000 sq ft and have a combined value of over £100m
- The transactions reflect yields significantly below 5%
Following a very successful 2009, the out of town retail and leisure investment team has started 2010 in the same strong vein. Clients continue to be impressed by the depth of market knowledge and experience across both the investment and occupational markets. This year the team has completed investment transactions with a combined value of over £275m and demonstrated an enviable ability to source product off-market at a time when quality stock is in high demand and low supply. For further information please contact Tim Vallance on +44 (0)20 7318 7838.
Q1 Sees the Residential Investment Team Solving Client Challenges
765 Finchley Road, London, NW11
- On behalf of global technology company Smiths Group, the Jones Lang LaSalle residential team has sold 765 Finchley Road for £10.8m
- The 1.55 acre site, including a 57,279 sq ft, 1980s vacant office building and adjoining house, was sold on an unconditional basis for £10.8 million to a JV between Galliard Homes and Albany Homes
In Q1, 2010 the Residential team has carried out numerous other transactions including, in conjunction with the Real Estate Work Out team, the swift sale of a property in receivership, Mizzen Mast House, Woolwich, SE18. The 21 x 2 bed unit riverside development in Woolwich was developed by Comer Homes in 2003. Other key instructions and wins for Q1 include the disposal of a ground rent portfolio in Northern and Central England on behalf of PJ Livesey Group. For more information contact Jack Simmons on +44 (0)20 7399 5531.
 National Industrial Investment Team Continues Gaining Market Share
The Interchange, Wested Lane, Swanley
- On behalf of 012 Estates, (a subsiduary of Rugby Estates), Jones Lang LaSalle sold this prime multi let 263,900 sq ft industrial estate to ING Real Estate
- The property was sold for £25.95m reflecting a net initial yield of 6.71% and a capital value of £98 per sq ft
- This prime asset is situated at Junction 3 of the M25 and is let to seven tenants including J Sainsbury's, Dreams and Toyota, for an average of approximately 5.5 years unexpired
The National Industrial Investment team continues to take market share from its competitors and advises a wide range of clients on both acquisitions and disposals. The team is currently advising clients seeking to dispose of properties in Park Royal, Maidstone and Huntingdon. For further information contact David Emburey on +44 (0)20 7399 5375.
If you would like to discuss your investment property needs please call any of the contacts above or:
Julian Stocks
Head of Capital Markets
+44 (0)20 7399 5915
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