RO CONTINUES TO REPOSITION PORTFOLIO WITH LATEST DISPOSAL

02/06/14

RO Real Estate, the UK commercial property investment and development company, has completed the sale of a 47,400 sq ft mixed-use property in Rochester, Kent.

RO has sold Vaillant House, Trident Close, its part-office, part-industrial property to Brookshire Capital LLP for £1.575 million.

The disposal is part of RO’s ongoing strategy to reposition its portfolio by carrying out a rolling disposal programme and recycling the proceeds for reinvestment in core income and value-add opportunities in the south east.

RO has already disposed of £6.6 million of its non-core assets and acquired £8.6 million of high-quality properties in the south east, including Persimmon House, a 22,101 sq ft office building in Weybridge.

RO Real Estate will continue this programme throughout 2014 and it still has a significant amount of cash to reinvest on lot sizes between £2-5 million, which offer the opportunity to add value through active asset management, one of the company’s key strengths.

Richard Bourne, head of RO Real Estate, said: “This disposal will help improve the quality and performance of our portfolio, as we use the cash resources to acquire assets which will offer secure income and long term growth potential”.

RO Real Estate was advised by Watson Day. Brookshire Capital LLP was unrepresented. 

-          Ends    -

For further information:

Richard Bourne, RO Real Estate

0207 025 1780

Richard.Bourne@rogroup.co.uk

Faye Walters, Tavistock Communications

020 7920 3150

fwalters@tavistock.co.uk

Notes to Editors:

RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south east. It is the property division of the RO Group, which has majority interests in businesses involved in residential development, high-quality holiday lodge developments, domiciliary and specialist care services and the development of utility-scale solar energy projects. 

www.rogroup.co.uk

www.rorealestate.co.uk