GCW complete flurry of Investment Deals

January 2008

WINCHESTER – 118/121 HIGH STREET / 65-67 ST GEORGE’S STREET AND UPPER BROOK STREET GCW and Green & Partners jointly advised clients of CBRE Investors in the purchase of the above freehold interest from AXA Sun Life Plc (advised by Kitchen Le Frenais Morgan).

A sum of £13 million was paid for the property which is let to Body Shop, River Island, Abbey National, McDonalds, Robert Dyas, Leightons Opticians and Toy Cupboard. The price reflected a net initial yield of 5.2%, after costs.

PETERBOROUGH – 28 LONG CAUSEWAY GCW advised clients of CBRE Investors, Unilever Staff Pension Fund, on the sale of the freehold interest in the above property to the tenant, Nationwide Building Society, in the sum of £1.7 million which reflected a net initial yield of 4.75%, after costs. NBS were advised by Colliers CRE.

EASTBOURNE – 72/92 TERMINUS ROAD GCW advised clients of La Salle Investment Managers, BAE Pension Pension Fund, in the purchase of the above freehold investment interest from Threadneedle Property Investments in the sum of £5,850,000. Tenants include Carphone Warehouse, C & H Fabrics, Sole Solutions, PDSA, Saks and Cheltenham & Gloucester. There is a vacant unit in the block which is available to let through GCW. The deal reflected a net initial yield of 5.75%, after costs.

Fiona Nichols
020 7647 4809