tag:blogger.com,1999:blog-79380350755290927862024-02-07T04:58:06.138+00:00RO Group NewsUnknownnoreply@blogger.comBlogger41125tag:blogger.com,1999:blog-7938035075529092786.post-71929206414951757762017-01-23T16:43:00.002+00:002017-02-07T10:48:12.329+00:00RO EXPANDS PORTFOLIO WITH WATFORD ACQUISITION 23/01/2017<br />
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RO Real Estate, the UK commercial property investment and development company, has completed the acquisition of a multi-let office building at 49 Clarendon Road, Watford, Hertfordshire.<o:p></o:p></div>
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RO has purchased Victoria House from Cheshire West and Chester Council for £5.815 million, which reflects a net initial yield of 7.16%. The 21,834 sq ft three-storey office building, which is in the heart of Watford’s prime office centre, has 4,704 sq ft of office space available in three suites ranging from 1,500 sq ft to 1,700 sq ft. Brasier Freeth are marketing the space to let on behalf of RO.<o:p></o:p></div>
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Current tenants include Drop & Collect, the UK’s largest independent store-based parcel delivery and returns service, Hays Specialist Recruitment, the leading global specialist recruitment group and CH Robinson Worldwide (UK), a Fortune 500 provider of multimodal transportation services and third-party logistics.<o:p></o:p></div>
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Richard Bourne, head of RO Real Estate, said: “We are delighted to have secured such a significant office property in Watford, which has immense growth potential as a key business district in the region. Its location close to the M1, M25 and London provide excellent train links from Watford Junction to Euston. There is a shortage of supply and strong demand therefore we expect rents to increase. We will also look to add value through a programme of refurbishment and asset management. This acquisition builds on our recent acquisitions in the south east and will be an exceptional addition to our portfolio.”<o:p></o:p></div>
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<span style="text-align: justify;">RO Real Estate was advised by Strutt & Parker, Cheshire West and Chester Council was advised by Capita. </span><br />
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<b>For further information:<o:p></o:p></b></div>
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Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
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01707 601400 / 0207 025 1780<o:p></o:p></div>
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Kirsty Allan, Tavistock Communications<o:p></o:p></div>
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020 7920 3150<o:p></o:p></div>
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<b>Notes to Editors:</b><o:p></o:p></div>
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RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south east, with a portfolio of more than £80 million of properties. It is the property division of the RO Group, which was founded in 1932 by Stanley Graham Rowlandson. His innovative attitude to business has been carried forward by his son, and current Chairman, Richard Rowlandson, who used the Group’s property and retailing experience to develop over 40 neighbourhood centres in the 1980s and 90s and 30 Pegasus Retirement Homes in the 2000s. Now Graham’s grandson and current Group Managing Director, Edward Rowlandson has grasped the mantle overseeing the Group’s investment in various entrepreneurial ventures which in addition to commercial property investment include residential development and high quality holiday lodge parks.<o:p></o:p></div>
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ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-86008419175795806542016-12-08T09:40:00.000+00:002016-12-09T09:41:18.739+00:00A MAJOR PLANNING PERMISSION ACHIEVED FOR METIS HOMES<div style="text-align: justify;">
<span style="font-family: Arial, Helvetica, sans-serif;">08/12/2016</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Following two years' work, Metis Homes has secured approval for their new development of 27 new homes at the old Station Yard in Sutton Scotney, just north of Winchester.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">The homes have a contemporary feel with a traditional palette of materials to be used.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Adam O’Brien, MD of Metis Homes, said: “this new planning permission finally solves the puzzle of a difficult brownfield site that’s laid redundant and derelict for more than a decade. I am proud of our professional team and it is gratifying to have secured a scheme that has truly had the input of the community and of Winchester’s officers.’ Work will begin on site without delay’.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">01962 893535<o:p></o:p></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><a href="mailto:sales@metishomes.co.uk" style="color: #000066; text-decoration: none;">sales@metishomes.co.uk</a><o:p></o:p></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><a href="mailto:land@metishomes.co.uk" style="color: #000066; text-decoration: none;">land@metishomes.co.uk</a><o:p></o:p></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Based in Winchester, Metis Homes was founded in 2007 by current managing director Adam O’Brien and Tony Burton, a former board director of Linden Homes and Alfred McAlpine Homes. <o:p></o:p></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Metis Homes is an experienced and highly respected residential development specialist with developments ranging from traditional homes in the countryside to exciting town centre schemes, and from small apartments to luxury houses. <o:p></o:p></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Metis Homes has been funded by the RO Group since its inception in 2007. The RO provides a substantial financial resource to the Metis business and adds its own property and trading expertise as necessary. Metis Homes complements the core values of the RO Group’s in business to do business philosophy.<o:p></o:p></span></div>
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ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-22355285084203298292016-11-28T12:03:00.000+00:002017-02-07T10:51:53.685+00:00RO COMPLETES TWO LETTINGS AT KATHERINE HOUSE, HERTFORDSHIRE<div class="MsoNormal" style="margin-bottom: 0cm; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">28/11/2016</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">RO Real Estate, the UK commercial property investment and development company, has completed two lettings, totalling 6,060 sq ft of office space at Katherine House in Potters Bar, Hertfordshire, generating an additional rent roll of £120,340 p.a.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">RO has leased 2,443 sq ft of space to Next Step Care Management, a nationwide organisation offering alternative residential accommodation to young people, on a 10 year lease. A P Xpress, a design company supplying printed labels to the fashion industry, has taken a further 3,617 sq ft of space on a 10 year lease.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Katherine House is a 3 storey self-contained office building, offering allocated parking for up to 18 cars. It is conveniently located near Potters Bar railway station which provides a 30 minute service direct to London Kings Cross Station.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Richard Bourne, head of RO Real Estate, said: “We are pleased to have secured full occupancy at Katherine House. These lettings demonstrate the momentum across our portfolio and the intensity we strive to put into all our asset management activity. The proximity to the mainline station and the availability of parking were key factors.”</span></div>
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<span style="text-align: justify;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Brasier Freeth LLP acted for RO, while Next Step Care Management and A P Xpress were unrepresented.</span></span><br />
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Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
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01707 601400 / 0207 025 1780<o:p></o:p></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south east, with a portfolio of more than £8 million of properties. It is the property division of the RO Group, which was founded in 1932 by Stanley Graham Rowlandson. His innovative attitude to business has been carried forward by his son, and current Chairman, Richard Rowlandson, who used the Group’s property and retailing experience to develop over 40 neighbourhood centres in the 1980s and 90s and 30 Pegasus Retirement Homes in the 2000s. Now Graham’s grandson and current Group Managing Director, Edward Rowlandson has grasped the mantle overseeing the Group’s investment in various entrepreneurial ventures which in addition to commercial property investment include residential development and high quality holiday lodge parks.</span></div>
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ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-14022791487716365812016-11-24T09:00:00.000+00:002017-02-07T10:53:28.028+00:00RO SELLS POUNDLAND STORE IN DUDLEY<span style="font-family: "arial" , "helvetica" , sans-serif;">24/11/2016<o:p></o:p></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">RO Real Estate, the UK commercial property investment and
development company, has completed the sale of a 31,667 sq ft Poundland store in
Dudley, West Midlands to B&M Retail Ltd for £1.925 million.</span></div>
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floors and is situated on the prime pitch in the High Street which benefitted
from a multi-million pound improvement programme in 2015. Dudley is well
located to the east of the M5 motorway and there are good rail services from
Dudley Port via Birmingham to London. Nearby occupiers in the High Street include
Boots, Santander, HSBC, Peacocks, Barclays Bank, Bon Marche, Superdrug, Wilko
and Ryman.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">RO completed a number of asset management initiatives at the
retail property including a refurbishment and reconfiguration of the unit as
well as a new roof. In addition the store has recently had an extensive new fit
out by 99p Stores.</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">This disposal is part of RO’s ongoing strategy to reposition
its portfolio by carrying out a rolling disposal programme once the value of
assets have been maximised and recycling the proceeds for reinvestment in core
income and value-add opportunities in the south east. </span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">RO Real Estate still has a significant amount of cash to
reinvest in lot sizes between £2-7 million. </span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Richard Bourne, head of RO Real Estate, said: “The
successful disposal of this property is in line with our strategy to maximise
value and recycle the proceeds into new asset management opportunities. We
secured a 10 year lease to Poundland and improved the quality of the unit,
therefore now was the right time to sell.”</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Lambert Smith Hampton advised RO and B&M Retail Ltd were
unrepresented on this transaction.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: center;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">- Ends<span style="mso-spacerun: yes;"> </span>-</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">For further information:</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<div class="MsoNormal" style="text-align: start;">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal" style="text-align: start;">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<div style="text-align: start;">
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a></div>
</div>
<div style="text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">
</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Kirsty Allan, Tavistock Communications</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">020 7920 3150</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<a href="mailto:kirsty.allan@tavistock.co.uk"><span style="color: blue; font-family: "arial" , "helvetica" , sans-serif;">kirsty.allan@tavistock.co.uk</span></a><span style="font-family: "arial" , "helvetica" , sans-serif;">
</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">Notes to Editors:</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">RO Real Estate is a privately-owned company specialising in
commercial property investment and development in the south east, with a
portfolio of more than £8 million of properties. It is the property division of
the RO Group, which was founded in 1932 by Stanley Graham Rowlandson. His
innovative attitude to business has been carried forward by his son, and
current Chairman, Richard Rowlandson, who used the Group’s property and
retailing experience to develop over 40 neighbourhood centres in the 1980s and
90s and 30 Pegasus Retirement Homes in the 2000s. Now Graham’s grandson and
current Group Managing Director, Edward Rowlandson has grasped the mantle
overseeing the Group’s investment in various entrepreneurial ventures which in
addition to commercial property investment include residential development and
high quality holiday lodge parks.</span></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<a href="http://www.rogroup.co.uk/"><span style="color: blue; font-family: "arial" , "helvetica" , sans-serif;">www.rogroup.co.uk</span></a></div>
<div class="MsoNormal" style="margin: 0cm 0cm 10pt; text-align: justify;">
<a href="http://www.rorealestate.co.uk/"><span style="color: blue; font-family: "arial" , "helvetica" , sans-serif;">www.rorealestate.co.uk</span></a></div>
ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-34127040768424332502016-11-18T08:42:00.000+00:002016-11-21T08:46:10.140+00:00METIS HOMES WINS PRESTIGIOUS WHATHOUSE? AWARD FOR BEST SMALL HOUSEBUILDER IN UK<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
18/11/2016<o:p></o:p></div>
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<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDydj7X18LAYpgwxdi8yhrrnMXAXzIX_75K-O6aqM6CyaUWwEfnOw-CNHDBJ2ebZUT_lg3By2YPpWYzGUNiC51Q7KPP_vUJm00QvSae79xuu8GWs2TbjtsD29JMDkDmCR5zT9s7Q8_LE0L/s1600/WhatHouse.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDydj7X18LAYpgwxdi8yhrrnMXAXzIX_75K-O6aqM6CyaUWwEfnOw-CNHDBJ2ebZUT_lg3By2YPpWYzGUNiC51Q7KPP_vUJm00QvSae79xuu8GWs2TbjtsD29JMDkDmCR5zT9s7Q8_LE0L/s320/WhatHouse.jpg" width="320" /></a></div>
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<div style="text-align: justify;">
Winchester
based, Metis homes is delighted to announce that it has won Silver at the
WhatHouse? Awards 2016, which were held today at the Grosvenor House Hotel in
London. The award was presented to
Managing Director Adam O’Brien in front of over 1,700 industry professionals,
the largest ever audience for the awards.<o:p></o:p></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
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<div style="text-align: justify;">
Now in their
35th year the WhatHouse? Awards are widely recognised as the most prestigious
in the housebuilding category and are referred to as the Oscars of the housebuilding
industry.<o:p></o:p></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
Metis Homes,
whose strapline ‘Modern Homes. Traditional Values’ struck a chord with the
judging panel, beat strong competition in a fiercely contested category to win
at the first ever time of asking.<o:p></o:p></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
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<div style="text-align: justify;">
Metis, which
is backed by parent Company RO Group, has continued to deliver beautifully
designed and finished homes with diverse architecture and stunning interiors
across the price spectrum in its target regions of Surrey, Sussex, Hampshire,
Wiltshire and Dorset. The business has
now received a spectacular endorsement as an experienced and respected new
homes builder, providing high quality developments with meaningful community
support and engagement.<o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
Adam
O’Brien, Managing Director of Metis Homes commented:<o:p></o:p></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<i>“This is the
first time that Metis has entered the WhatHouse? Awards and we are very proud
that a judging panel of industry experts and peers has recognised the
substantial progress we have made as a business in a relatively short period of
time. It is a huge endorsement of the
values that are important to our business.<o:p></o:p></i></div>
</div>
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<div style="text-align: justify;">
<i><br /></i></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<i>“In our
awards submission we tried to give the judges an insight into those values,
which include: quality of product; exceptional customer care; innovative
marketing; strong community relations and CSR, collectively contributing to an
impressive financial performance.<o:p></o:p></i></div>
</div>
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<div style="text-align: justify;">
<i><br /></i></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<i>“This award
is testament to the quality of homes we produce and is a ringing endorsement of
the professionalism of the entire Metis team and the wider network of partners,
suppliers and contractors with whom we work.
I would like to thank them all for their continued support and
contribution to our success.”</i><o:p></o:p></div>
</div>
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<br /></div>
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-Ends-<o:p></o:p></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
For further
information:<o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
Rupert Price<o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
Sales and
Marketing Director<o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
01962 893535<o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
Sales<o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
01962 893545<o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<a href="mailto:sales@metishomes.co.uk">sales@metishomes.co.uk</a><o:p></o:p></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
Land<o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
01962 893535<o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<a href="mailto:land@metishomes.co.uk">land@metishomes.co.uk</a><o:p></o:p></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
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<div style="text-align: justify;">
Notes to
Editor <o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
Based in
Winchester, Metis Homes was founded in 2007 by current managing director Adam
O’Brien and Tony Burton, a former board director of Linden Homes and Alfred
McAlpine Homes. <o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
Metis Homes
is an experienced and highly respected residential development specialist with
developments ranging from traditional homes in the countryside to exciting town
centre schemes, and from small apartments to luxury houses. <o:p></o:p></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
Metis Homes
has been funded by the RO Group since its inception in 2007. The RO provides a
substantial financial resource to the Metis business and adds its own property
and trading expertise as necessary. Metis Homes complements the core values of
the RO Group’s in business to do business philosophy.<o:p></o:p></div>
</div>
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<div style="text-align: justify;">
<br /></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<a href="http://www.metishomes.co.uk/">www.metishomes.co.uk</a><o:p></o:p></div>
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<div style="text-align: justify;">
<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a></div>
</div>
ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-15335843510038326062016-10-17T20:46:00.002+01:002017-02-07T16:11:37.316+00:00RO GROUP’S SOUTH EAST EXPANSION<div class="MsoNormal" style="text-align: justify;">
17/10/2016<br />
<br />
Through its wholly owned subsidiary RO Real Estate, which acquires, manages and develops commercial property assets, RO Group has been very active in the south east, underlining its strategy of adopting a long term approach to business.<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
In Sevenoaks, Kent, RO has acquired a 14,524 sq.ft multi-let office building at 1 Suffolk Way from Marley Pension Limited for £4.6 million. The four-storey office building with 59 parking spaces is close to local amenities and Sevenoaks Railway Station, providing excellent access to London via Charing Cross, Waterloo and London Bridge Stations. RO will seek to refurbish the property and provide high quality accommodation. The low level of supply, coupled with the high demand for good quality office space is already delivering strong rental growth.<o:p></o:p><br />
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmJdvHRFrkrFQxG-Bmb6WlyrS-sOou1fBUUzaoqnuAK9r-CBJxkMrw477x_fqjVipTWjpiHTeX6muKrzcxBD8t6DQgQMhkp0qxSveIcp0vYId1U2GCq5wEoF4okFDwCJn9IxBieqVlLJU/s1600/Weybridge+-+CGI.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="226" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmJdvHRFrkrFQxG-Bmb6WlyrS-sOou1fBUUzaoqnuAK9r-CBJxkMrw477x_fqjVipTWjpiHTeX6muKrzcxBD8t6DQgQMhkp0qxSveIcp0vYId1U2GCq5wEoF4okFDwCJn9IxBieqVlLJU/s320/Weybridge+-+CGI.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="font-size: 12.8px; text-align: center;">Dakota CGI</td></tr>
</tbody></table>
</div>
<div class="MsoNormal" style="text-align: justify;">
In Weybridge, Surrey, RO has begun work on Dakota, a speculative office development at Brooklands. A self-contained high quality modern office building comprising 35,582 sq.ft, Dakota will be prominently situated at the heart of the business park which has attracted a number of high profile occupiers including LG, Sony Europe, Samsung, Regus, Proctor & Gamble and Mercedes Benz. On completion, scheduled for March 2017, Dakota will offer four floors of up to 11,200 sq.ft. Future occupiers will also benefit from Grade A office space, 122 dedicated car parking spaces (1:290 sq.ft), two entertainment roof terraces, 30 cycle spaces and eight shower facilities.<o:p></o:p><br />
<div class="separator" style="clear: both; text-align: center;">
</div>
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Visit <a href="http://dakota-weybridge.com/">Dakota-weybridge.com</a><o:p></o:p></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Following refurbishment and representation, RO has also recently sold Crabtree Office Village in Egham, Surrey, its four unit office park to House of Hiranandani for £4.3 million. Nearby in Staines, RO also owns Staines One, an 8,188 sq.ft three storey office building adjacent to Staines mainline railway station with 33 dedicated car parking spaces, acquired in 2007 and subsequently fully refurbished.<o:p></o:p></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Following strong demand, RO has fully let the building to tenants which include IDG, United Closures & Plastics and Le Mare Design at rents of up to £28.50psf.<o:p></o:p></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Richard Bourne, head of RO Real Estate, commented: “The south east office market is currently characterised by a limited supply of good quality space and a healthy level of demand. In many areas there is less than 3-6 months of supply and as a result we are seeing strong rental growth. We see this as an excellent opportunity to manage the assets to deliver long-term capital growth and performance given the location and market characteristics. Many of these south east towns also offer alternative use angles, which enables us to de-risk the investment and potentially deliver additional returns. These examples are all reflections of the RO’s approach to property; finding opportunities to create value in every asset we own whether through redevelopment, refurbishment or general asset management.”<o:p></o:p></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
For more information visit <a href="http://rorealestate.co.uk/">ROrealestate.co.uk</a><br />
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<br />
-Ends-<br />
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b>For further information:</b><o:p></o:p></div>
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<b><br /></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<div class="MsoNormal" style="text-align: start;">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal" style="text-align: start;">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<div style="text-align: start;">
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a></div>
</div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
Kirsty Allan, Tavistock 020 7920 3150<o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="mailto:kirsty.allan@tavistock.co.uk">kirsty.allan@tavistock.co.uk</a><o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b>Notes to Editors:</b><o:p></o:p></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><br /></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south east, with a portfolio of more than £81 million of properties and £35 million of cash. It is the property division of the RO Group, which was founded in 1932 by Stanley Graham Rowlandson. His innovative attitude to business has been carried forward by his son, and current Chairman, Richard Rowlandson, who used the Group’s property and retailing experience to develop over 40 neighbourhood centres in the 1980s and 90s and more than 30 Pegasus retirement homes in the 2000s. Now Graham’s grandson and current Group Managing Director, Edward Rowlandson has grasped the mantle overseeing the Group’s investment in various entrepreneurial ventures which in addition to commercial property investment include residential development, high-quality holiday lodge developments, domiciliary and specialist care services.<o:p></o:p></div>
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<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk<o:p></o:p></a></div>
<div style="text-align: start;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a></div>
</div>
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<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
</div>
</div>
ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-42529400748727957532016-10-04T10:30:00.000+01:002017-02-07T16:12:15.712+00:00RO GROUP CONTINUES TO INVEST IN THE REGIONAL ECONOMY<div class="separator" style="clear: both; text-align: left;">
04/10/2016</div>
<div class="separator" style="clear: both; text-align: left;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
Largest single property disposal in group’s history follows acquisition of prominent Southampton site and redevelopment of landmark office building in Weybridge</div>
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Established in 1932, RO Group is
a family owned business which has a long heritage of investing in local
economies across the UK. It has achieved
this through a variety of trading and investment businesses, operating across
diverse sectors, as well as by providing substantial support of local community
charitable projects and causes.<o:p></o:p></div>
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Through its wholly owned subsidiary RO Real Estate, which acquires,
manages and develops commercial property assets, RO is delighted to announce
two significant transactions, both of which underline its strategy of adopting
a long term approach to business.<o:p></o:p></div>
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Firstly, RO has acquired a prominent 48,441 sq ft office development on the harbour front
within Town Quay, Southampton, from TH Real Estate for £7.6 million. Existing
tenants include Bank of Scotland, the Secretary of State for Communities and
Local Government and Lambert Smith Hampton. There are two vacant floors
totalling circa 8,725 sq ft which RO is currently refurbishing having agreed a
letting at £170,000 per annum; on completion of this letting the property will
be fully let. The site is a short walk from West Quay and in an area that has
been earmarked for significant redevelopment with numerous retail, commercial
and residential development projects planned.
LSH advised TH Real Estate on the sale of Southampton and CBRE advised
RO.<o:p></o:p></div>
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With a more than 80 year track record RO has always been committed to
identifying and assessing long and medium term opportunities in regions which
are being transformed as part of wider urban planning projects. This
entrepreneurial attitude and investment in property has run through the ethos
of RO Group since it was founded in 1932 by Stanley Graham Rowlandson. His
innovative attitude to business has been carried forward by his son, and
current Chairman, Richard Rowlandson, who used the Group’s property and
retailing experience to develop over 40 neighbourhood centres in the 1980s and
90s and more than 30 Pegasus retirement homes in the 2000s. Now Graham’s
grandson and current Group Managing Director, Edward Rowlandson has grasped the
mantle overseeing the Group’s investment in various entrepreneurial ventures. <o:p></o:p></div>
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The Group has also just achieved the largest single sale of an individual
property asset in its history, being the Staycity Hotel development in Birmingham’s
Jewellery Quarter. The Staycity development, which consists of 170 apartments
within a five minute walk from the City Centre, has been sold to KFIM Long
Income Property Unit Trust (Knight Frank Investors) for almost £21 million.<o:p></o:p></div>
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The land had been in the RO’s ownership since 2008 and despite
significant commercial challenges along the way, including two contractors
going into administration, RO persevered with the project creating an
impressive development right in the centre of Birmingham. Colliers advised RO on the sale
of Staycity and Mulberry Bay advised KFI.<o:p></o:p></div>
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Alongside these two transactions the RO has also recently embarked on a
speculative redevelopment project in Weybridge. Dakota, previously known as
Persimmon House and acquired in late 2013, is a 22,000 sq ft headquarters
office building which is being refurbished and extended to provide 35,500 sq ft
of grade A space. Construction work has begun and should be complete by the end
of March 2017. <o:p></o:p></div>
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<b>Richard Bourne, head of RO
Real Estate, commented:</b> “These
three examples are all reflections of the RO’s approach to property; finding
opportunities to create value in every asset we own whether through
redevelopment, refurbishment or general asset management. In doing so, we aim
to deliver the optimum returns for the company and the highest quality assets
for our occupiers.<o:p></o:p></div>
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“The sale in Birmingham places us in an extremely strong position with
significant cash resources, enabling us to move quickly and take advantage of
new opportunities as they arise. The current portfolio performs very strongly
and we are seeking to build on this by deploying circa £30m of cash in £2-6m
lot sizes across southern England. All acquisitions will need to meet out
strict criteria: low availability and high take up/demand in strong macro and
micro locations. We always look at alternative use options and this can lead us
to also buy some less obvious assets such as petrol filling stations and garden
centres as well as the more mainstream sectors. The portfolio is risk adjusted
with some long income, dry investment assets as well as some value-add opportunities
and this will continue.<o:p></o:p></div>
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“The acquisition in Southampton is evidence of our investment in strong
regional markets. This is a good-quality
and extremely well-located asset which should prove reversionary given the
occupational supply and demand dynamics. It also offers the opportunity to add
value through an active asset management strategy.”<o:p></o:p></div>
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<b>Edward Rowlandson, Group
Managing Director, RO Group said: </b>“Our
experience in Birmingham can perhaps be seen as a microcosm of the recent
economy as a whole with its various ups and downs. The team have worked
extremely hard to overcome the various challenges, finding solutions to
problems and eventually concluding on the sale of this high quality asset. With the additional resources the disposal
has provided we look forward to acquiring new assets which conform to the RO’s
instinctive ‘in business to do business’ approach to property.”<o:p></o:p></div>
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Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
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01707 601400 / 0207 025 1780<o:p></o:p></div>
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<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a></div>
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Kirsty Allan, Tavistock 020 7920 3150<o:p></o:p></div>
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<a href="mailto:kirsty.allan@tavistock.co.uk">kirsty.allan@tavistock.co.uk</a><o:p></o:p></div>
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<b>Notes to Editors:</b><o:p></o:p></div>
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RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south east, with a portfolio of more than £81 million of properties and £35 million of cash. It is the property division of the RO Group, which was founded in 1932 by Stanley Graham Rowlandson. His innovative attitude to business has been carried forward by his son, and current Chairman, Richard Rowlandson, who used the Group’s property and retailing experience to develop over 40 neighbourhood centres in the 1980s and 90s and more than 30 Pegasus retirement homes in the 2000s. Now Graham’s grandson and current Group Managing Director, Edward Rowlandson has grasped the mantle overseeing the Group’s investment in various entrepreneurial ventures which in addition to commercial property investment include residential development, high-quality holiday lodge developments, domiciliary and specialist care services.<o:p></o:p></div>
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<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk<o:p></o:p></a></div>
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<a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a></div>
ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-18870677476771177802016-09-08T15:52:00.002+01:002017-02-07T16:12:38.815+00:00RO EXPANDS COMMERCIAL PROPERTY TEAM<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">08/09/2016</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; text-align: justify;">RO Real Estate, the UK commercial property investment and development company, has strengthened its property team with the appointment of Debbie Barker as Senior Property Manager and Zoe Sharpe as Development Surveyor.</span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_Gc_J__QmNjAFzI3GVj1N6BsE_d6HQnXcRqDZAM2-ALagymM6CYBc2FgHAo46bpG3WnYaAI51bBl5IO3fSfU3wHWF07wEH2pjrZe3M22FEXLyhWn2AegC4CSw7xfU3-RJhOhEBuovSZY/s1600/Debbie.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_Gc_J__QmNjAFzI3GVj1N6BsE_d6HQnXcRqDZAM2-ALagymM6CYBc2FgHAo46bpG3WnYaAI51bBl5IO3fSfU3wHWF07wEH2pjrZe3M22FEXLyhWn2AegC4CSw7xfU3-RJhOhEBuovSZY/s200/Debbie.jpg" width="193" /></a></td></tr>
<tr><td class="tr-caption" style="font-size: 12.8px;"><i>Debbie Barker</i></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Working alongside Richard Bourne, head of RO Real Estate, Debbie will be responsible for the day to day management of the properties in the portfolio and Zoe will be assisting with the development and implementation of the refurbishment and development strategies.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Prior to joining RO, Debbie was a Director at CBRE, where she was responsible for overseeing the management of properties in central London. She graduated from the University of Leeds with a BA Hons in French and Management Studies. She also has a PG Dip in Estate Management and is a member of the Royal Institution of Chartered Surveyors.<o:p></o:p></span></div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8F56lGuGBCndEmsvK3zYvYgdOe1PCCtm4aCChghodfgq84lPbp5kt1eRQZUhaP496nx7TjJPnaDpaiNljRhjtve5sASvnlRilA7iZPirYJ-qTKozZdz2Yr6zWCpWoy79c0B13IMxoQfo/s1600/Zoe.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img alt="" border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8F56lGuGBCndEmsvK3zYvYgdOe1PCCtm4aCChghodfgq84lPbp5kt1eRQZUhaP496nx7TjJPnaDpaiNljRhjtve5sASvnlRilA7iZPirYJ-qTKozZdz2Yr6zWCpWoy79c0B13IMxoQfo/s200/Zoe.png" title="Zoe Sharpe" width="178" /></a></td></tr>
<tr><td class="tr-caption" style="font-size: 12.8px; text-align: center;"><i>Zoe Sharpe</i></td></tr>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Zoe was a Senior Surveyor at JLL, working across acquisitions, disposals and the development of land and buildings. She graduated from University College London with a BA Hons in Politics and Eastern European Studies and she holds an MSc in Real Estate Management. She is also a member of The Law Society and the Royal Institution of Chartered Surveyors.</span><span style="font-family: "arial" , "helvetica" , sans-serif;"></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; text-align: justify;">Richard Bourne, head of RO Real Estate, said: “The addition of Debbie and Zoe to the team is an important part of our growth strategy. Debbie will bring a wealth of corporate experience to the role as we expand our mandates for managing third party properties. Zoe will bring invaluable multi-sector experience as we unlock the latent value from our current and future assets. RO Real Estate is now well positioned with financial and human resources to grow the business and maximise our returns over the coming years."</span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">For further information:<o:p></o:p></span></b></div>
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Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
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01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Kirsty Allan, Tavistock</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">020 7920 3150<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="mailto:kirsty.allan@tavistock.co.uk">kirsty.allan@tavistock.co.uk</a><o:p></o:p></span></div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">Notes to Editors:<o:p></o:p></span></b></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">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.<b><o:p></o:p></b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><o:p></o:p></span></div>
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<a href="http://www.rorealestate.co.uk/"><span style="font-family: "arial" , "helvetica" , sans-serif;">www.rorealestate.co.uk</span></a></div>
ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-81977500122345860292016-07-22T10:12:00.000+01:002016-10-17T21:03:00.690+01:00PLANNING APPLICATION APPROVED FOR METIS HOMES<div class="MsoNormal">
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<span style="font-family: "arial" , "helvetica" , sans-serif;">22/07/2016<br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdIlriDDBGbzC5cBOhg9zi29u4jq5v8V8VgYMN3nXH1RGCHN2Lxt0nMnYYA5CYmVqFAxugAnsTrneRdYWUBx_DauHE6Pg3DO5TIpBiiSJ_PcabY9JKPDhLSncPgzWjYhHjFh63TpLp7_fh/s1600/grayshott.png"><img border="0" height="282" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdIlriDDBGbzC5cBOhg9zi29u4jq5v8V8VgYMN3nXH1RGCHN2Lxt0nMnYYA5CYmVqFAxugAnsTrneRdYWUBx_DauHE6Pg3DO5TIpBiiSJ_PcabY9JKPDhLSncPgzWjYhHjFh63TpLp7_fh/s400/grayshott.png" width="400" /></a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Metis Homes have successfully secured delegated approval for an exclusive new scheme of nine luxurious apartments, complete with two parking spaces each. Located in the desirable village of Grayshott in East Hampshire, these new apartments will offer exceptional living in a prime position.</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif;"><br />They hope to be on site in a few months’ time.<br /><br />For further information:<br /><br />Rupert Price<br />Sales and Marketing Director<br />01962 893535<br /><br /><b>Sales</b><br />01962 893545<br /><a href="mailto:sales@metishomes.co.uk">sales@metishomes.co.uk</a><br /><br /><b>Land</b></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif;">01962 893535<br /><a href="mailto:land@metishomes.co.uk">land@metishomes.co.uk</a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Based in Winchester, Metis Homes was founded in 2007 by current managing director Adam O’Brien and Tony Burton, a former board director of Linden Homes and Alfred McAlpine Homes. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Metis Homes is an experienced and highly respected residential development specialist with developments ranging from traditional homes in the countryside to exciting town centre schemes, and from small apartments to luxury houses. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Metis Homes has been funded by the RO Group since its inception in 2007. The RO provides a substantial financial resource to the Metis business and adds its own property and trading expertise as necessary. Metis Homes complements the core values of the RO Group’s in business to do business philosophy.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="http://www.metishomes.co.uk/">www.metishomes.co.uk</a><br /><a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a></span><br />
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ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-48821182887965134642016-07-21T18:49:00.000+01:002017-02-07T16:13:07.622+00:00OAS/RO SOUTH EAST OFFICE DEBATE: BREXIT AND ALL THAT<div class="MsoNormal" style="line-height: 16pt; margin-bottom: 0cm; text-align: justify;">
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<span style="font-family: "arial" , "helvetica" , sans-serif;">21/07/16<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>The South East office market had been enjoying significant rental growth in key markets and solid take-up and investment figures as well as robust lending appetite. And then the EU Referendum vote arrived. All of which contributed to a particularly insightful and entertaining debate at this year’s RO Real Estate and Office Agents Society lunch, which took place with key figures in the agency, investor, developer and lending communities the week after the vote. CoStar News was in attendance.</b><o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><i>The participants were: Richard Bourne, RO Real Estate, Ryan Dean, OAS Chairman & Knight Frank, Richard MacDowel, Lloyds Bank, Aston Woodward, Oxygen, James Silver, Landid, Rob Bray, Bray Fox Smith, Rory Carson, Oxford Properties, Chris Lewis, Cushman & Wakefield, Phil Sturdy, Mayfair Capital, Ed Smith, Strutt & Parker, Richard Talbot Williams, BNP Paribas Real Estate</i><o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>The banking market appears to have initially been the most hit unless you are a housebuilder. Richard what is the analysis from a Lloyds perspective?</b><o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel – </b>The announcement was clearly a surprise, with the markets expecting Remain, but I understand there have been contingency plans put in place with the Bank of England across the financial sector to make sure liquidity remains strong. And I certainly feel that this is very different to 2008, where real estate lending books across the UK currently seem to be in robust shape, as per the latest de Montfort survey. I understand at Lloyds we are well below 60% LTV across our book and we have been running stress tests with our Regulator to ensure we are prepared for any potential period of lower values. From our perspective, we have a strong balance sheet.<b> </b><o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In terms of appetite for continuing to support and make real estate loans to our customers, I have had no sense that it is anything other than business as usual from a credit point of view. There will clearly be scrutiny while revised valuation metrics are established, but we remain open for business.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I think there is consensus that pricing will start to be impacted and margins will go up as cost of capital increases with volatility and uncertainty. But it’s too early to determine what the new normal is.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – You are lending at margins over libor but libor is coming in and looking at swap rates they are coming in too. Therefore won’t borrowing costs remain relatively stable?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – I expect margins to increase by 50 to 75 bps while swaps have come in by about 40 bps. The overall cost of debt is probably going to rise but remain at historically cheap levels.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel </b>– My gut feeling is margins have risen and will rise 25 to 50 bps and it probably won’t be as bad as 50 to 70 bps and, as you say, 10 year swap rates have dropped by 40 bps, so the net difference I don’t think will be massive. Obviously if property values drop then your overall ICR coverage should stay consistent. If you are lending at 60% loan to value against £10m and your ICR was 1.6 times and your value has dropped to now £9m and you’re still at 60% and your cost of funds have only gone up marginally, than actually your ICR should be in a better position. The key of course is making sure your income covenant remains unchanged.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – Richard do you see banks being more cautious and bringing down their LTVs and wanting better real estate and longer leases to lend against? To be more discerning on what they lend against?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel</b> – Our credit policy has not changed, as we remain a lender through the cycle and our policy is designed for such eventualities. I suspect we will be cautious while the impact of Brexit remains uncertain on occupier markets and values, but we remain very much open for business, as I gather are a number of our competitors. We got challenges from credit pre Brexit and we will get challenges from credit post Brexit.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – So what happens if there is a reduced amount of activity in the market and so less opportunities for you to lend against? Have you got pressure to lend?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel </b>– I think our real estate lending business is going to be under scrutiny along with those other sectors that typically are first to suffer where there is a downturn, and we will continue to justify the use of the bank’s balance sheet against lots of other demands of capital in the bank. There is no pressure yet to lend and I believe liquidity remains good, but we hope our customers see the merit of being with a strong bank and we will look to support them in what they are doing. Whether there is another push along the lines of the Funding for Lending Scheme, remains to be seen. But I don’t see it at present.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – We were gearing up to bring forward a few sales. Now they may get held a little bit. How have values probably changed?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – It is a bit early to say anything in terms of where values are going but what we have seen is a few deals fall out of bed which possibly were on the brink anyway, so it’s a good excuse to pull out of deals at this stage. They have been under offer for a long time and are waiting to find a reason not to do it.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – We pulled out of one deal with 25% vacancy. The deal was always subject to Brexit and we didn’t even start due diligence. I think investors will just move down the risk curve. There is natural nervousness right now for riskier assets with short term income or vacancy. The longer leased assets look relatively good value with gilt yields falling to sub 1%.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – It is interesting. We have an institutional sale that has exchanged subject to a Brexit clause. They had until 5pm last night to invoke the break clause, 5pm has passed and they have asked for a completion statement and the agreed price. Now that is a long-dated income. With RPI kickers and it is a good quality covenant play - it is defensive stock. Property is a long-term game and most investors are saying this will sort itself out over 5-10 years. So there is no real issue.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">"I have not been party to their investment committee decision but it must have been kicked around the table a few times and they have decided to run with it. I agree we will see a flight to quality and a lot of funds and institutions are likely to have to be seen to be not taking risk. But for us as a South East focused private property company we are looking at where the opportunities are. When this sale completes I am hoping to be sat on about £30m of cash ready to invest and looking at where the opportunities lie. South East offices over the years have done very well for us and I think there are a lot of areas where the supply and demand balance is very good, I think there will be some good opportunities going forward.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – It does depend on where people’s attitudes to where the occupational dynamics are. The aggression that we have seen on occupier growth in appraisals is going to be pegged back a little bit. That said overseas buyers with the currency plays that we are going to see are probably going to lead to a more aggressive view on pricing so they may cancel each other out.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – The funds will be more defensive, there will be a focus on decent quality kit and income because if they have to sell that is the stuff that goes first.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – But who are the people who are going to sell? Maybe the retail funds will come under a bit of pressure but they do have good cash buffers.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – A lot of the retail funds have quite significant 15 to 20% cash buffers so they are much better placed than they were in the last downturn but I guess they are expecting or are wary of redemptions.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – The press have suggested some funds have taken a 5% discount just to try to prevent redemptions.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – Yes and that is the sort of thing that is understandable. They are saying let us look six months down the line. We need to have the buffers in place. Does that mean there are opportunities coming forward, probably not because those retail funds from last time around will be selling assets of top quality. They will not be looking to cut out the low quality because they will see a big impact on value. They are going to say the reason why we bought top quality assets in the first place is for these events where we have volatility and values remain high.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – But do you not think they will also see this on the secondary, tertiary assets? They might think that the lot size is too small and the asset is too management intensive, so let’s get it out the door and take the cash.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Rob Bray</b> – Because there will be capex coming up. Some of the M&G stuff that came along came out because it had capex in 12 months’ time.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – If they need the money, they need the money. Trying to sell something where you have vacancy coming up, is likely to be more difficult. But if you need to put additional capex into a refurbishment then I can see those decisions being more of a challenge.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Rob Bray</b> - But there are other parties that pick up all of these opportunities and the only way they make money is to buy low and sell high.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – I will be interested to see what the volumes are like because to date they have been pretty depressed and investment agents thrive on deal volume and I don’t see the volumes increasing significantly.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – The UK investment volumes are forecast at noticeably lower than 2014, looking at down by 25%. It has been skewed by Green Park in the South East. Q2 looks quite positive because of that but you have to take that into consideration.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b> – The number of deals is down.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – We are saying 25% down year on year and it could pan out a bit more than that. If people have written off to Q3 then they may think let’s write off the rest of the year and start again.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – But how much of the year was annual market slowdown and how much is Brexit?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – The second half of last year was a marked slowdown on the first half and we came into the beginning of this year and everyone was appraising it as pretty fully priced. It was all about property fundamentals and then the market occupational story. We are only buying decent centres with good growth stories in the face of yield compression. That is where you can see where the last six months has been going. Bolt on the Brexit and you can see that it will stay off for at least a quarter, probably until the end of the year.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b> – Is that because last year was driven by the retail funds?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – The first half of last year was retail funds. But overseas still had about a third of the market.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – But what they were trying to do was get their funds in decent shape should something like this happen. Yes they did buy but they bought good quality defensive assets which they paid a good price for.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel –</b> A fair amount of our overseas clients have been relatively quiet in the build up to Brexit but actually in the last couple of days we feel they will come back into the market because the exchange rate has shifted. I think Q3/Q4 will see a lot more activity from overseas buyers who were basically out of the market in Q2.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne </b>– Private equity and property companies have been building up funding to take advantage of the market so I think the investor market is still there. The exchange rate is also making property look relatively cheap for foreign investors now.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – Yes they have their time in the sun to come because they have always been up against the institutional market where they have been struggling to win and now they have an opportunity where they say well actually we are only up against ourselves now.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b> – Overseas investment is not common in the M25 though.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Aston Woodward</b> – This morning I had a couple of calls from South African investors, one a South African REIT and the other a South African family office who have holdings here. Their concern is over what the impact will be to existing holdings and what may happen to values and also if you have vacant space what are the effects on companies who might potentially occupy that space. We understand there will be redemptions in retail funds and we have been talking to various fund managers. It will be interesting to see how it unravels and from an overseas investment perspective it feels like an opportunity, the question is at what point do you come in? There is currently a 5% discount and this could be a 10% discount on some of the other retail funds and even greater going forward<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">So I think in summary there is concern but without doubt there is a sense of, is this an opportunity and should we be doing something about it and if so when should we be doing something?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel</b> – So sterling has broadly come down 9% against the dollar and euro, the rand by about 7% so I think the pound/rand exchange rate is around 21 pre Brexit and is around 19 now so I think the rand/pound differentiation is not as significant.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Aston Woodward</b> – Now we are seeing sterling devalued, I think yes there is a buying opportunity for overseas investors. What is interesting is some of the overseas REITS have taken a lot of subscriptions as a reaction to the risk associated going forward in the U.K. The REITS with a premium associated with UK and European holdings have lost some of their value to reflect this new risk. A big question for the South East office market will be over the occupational piece.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>James Silver</b> – It is too early for us to react too much at the moment. We are building out about 600,000 sq ft in the South East and what we have done is ensure That we have bought and developed the best in the market in terms of specification so we feel positive. Actually thus far it has been strong in terms of continued talks on letting space.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b> – People have been getting to a lease event. That is the reason they move and the days of the huge expansion were gone in 2000/2001. It has really been about moving from a poor building to a good building.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – Lots of investment decisions have been made on the back of forecast rental growth, post the Referendum where will they be going?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b> – We have not lost a deal or seen anybody call off negotiations but the bigger houses that work with a larger number of corporates are all thinking should they be committing tenants to a lease now if they have time on their hands or should they be waiting a couple of months longer. I am seeing that a little bit in larger ones that have a larger time horizon. So somebody who is looking at a prelet and they are in a market where they can possibly pick up an existing building between now and their lease expiry then the advice they are being given is "we might have reached the top and you might get a better deal in two months’ time" so there might be a bit of that going on but fundamentally businesses still need to move.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – We have a couple of vacant buildings that have been recently refurbished and are now under offer. We have two lettings in Potters Bar where both the tenants have a lease expiry on their existing building which is going to residential so they have to get out. They are chasing me daily even after the vote. <o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">There are still people who are going to be forced to make decisions. We have a building in Watford, only 4,500 sq ft, but we had five tenants fighting over the building and we drove rents from £24 per sq ft to £26 per sq ft.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">That is driven by five people who are desperate to take space and need to make a decision. So as much as there has to be caution and the big corporates will have to rethink about committing to multimillion-pound occupation costs there are a number of reasons why people have to move whether it is contraction, cost saving, higher profile branding, lease events or it is a need to improve efficiency.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>James Silver</b> – Most of the markets have limited supply.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – That’s the key that we have not seen before in previous situations. At Knight Frank we see the M25 vacancy rate at about 5.5% and yes there is some stock coming through and it is going to move vacancy out a bit but nowhere near back to where we were in 08/09 or early 03 levels where there was so much space on the market. So fundamentally that is quite different.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Aston Woodward</b> – In some ways it could actually be quite helpful. So let’s say the balance of power goes a little back with the tenant and they can start to squeeze landlords that might unblock things and make things happen and could actually generate some activity.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Rob Bray</b> – But I don’t think a lot of the deals we do are about rents – it is within a bracket but if we are talking a pound or two a foot that does not impact decisions.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – We have focused our buying strategy purely on where the supply is low or decreasing and demand is strong as that is where you are going to see rental growth and keep the building let, cash flow is king. I have not seen tenants pulling back on rents, in fact the opposite. I think simple economics would suggest that rents won’t stop moving on because we haven’t had the supply in recent years. There is less space for tenants so they will pay extra for the best space.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – Is there a risk of a lot of grey space coming on to the market?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b> – The announcements are more City based and not so much Thames Valley where we are. This market is not so exposed to the likes of HSBC moving their headquarters. I think our biggest stress point will be companies from the States who are here looking at their European headquarters that may be impacted. There was an announcement earlier today for instance about Vodafone questioning whether their headquarters should be in the UK.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – But that is the corporate headquarters in Paddington. Not to be political but this could be bigger than just what has happened in the UK which means actually would Vodafone be wise to move to Germany knowing what could unravel across Europe. Who knows what will happen? So if you have something that is working are you going to see that out for a little bit to work out what will happen? If those rents start to fall off in Central London does the discount in West London of £50 per sq ft start to have less of a pull than it did?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b> – Possibly but those rental rises have only been because local occupiers have moved from poor buildings to the new quality buildings that have been delivered in that period. Because we haven’t actually seen anybody move from the West End to Hammersmith. Has anyone mentioned that Ocado signed for a 150,000 sq ft deal on Thursday? That is obviously a business that delivers to UK households.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – It is a big business with a 1,000 people and they could have delayed their decision but they simply had to do it.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Rory Carson</b> – If you think back to the dotcom crash, the grey space that came onto the market was from companies that were expanding quickly having signed big pre-lets. It went from being a massively undersupplied market with lots of demand to a hugely oversupplied market. In the South East, however, it was a far more balanced situation, with demand fairly consistent throughout the cycle. Take-up since the credit crunch has often been driven by people going to better buildings and using them more efficiently. The supply and demand dynamic is pretty positive and I think that occupiers are, mostly, right-size at the moment.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Rob Bray</b> - The fundamentals of the UK property market are very sound. There is not a massive oversupply in that respect and the English language is so important.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> - They have a skilled workforce in companies like Vodafone so those decisions are not going to be taken lightly - the costs of taking an office and moving somewhere else is going to be huge.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Talbot Williams </b>– The national investment team has continued to do deals and where there has been a change they have been value add, up the risk curve deals and where they have come back they have been “we want to trade at a different price or we are not sure whether we want to trade”. That has been two or three smaller deals. But I think in the more core stuff it has been income deals and it has been business as usual.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis –</b> Is it sterling buyers that have been saying, “give me a bit more time or I need to a have a chat about it?” or was it overseas buyers?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Talbot Williams</b> – It is generally overseas money but backing UK asset managers.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – In the press it is often big deals that are talked about but if you get under the skin of it the smaller lot sizes and buildings are still performing well both occupationally and investment wise. Look at auction houses, they have been absolutely rammed to the rafters and there have been high success rates off the back of that.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – A lot of the private buyers at auctions are investors who favour commercial property over an over taxed residential investment market now?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – You have a two tier market in terms of large Institutional lot sizes and smaller private lot sizes. You can see the attraction for the private investor. There are always opportunities I am fascinated to see what happens in the July auctions. We have two assets going in there so I hope it continues. I think the smaller end of the market has been boosted by the tax on buy-to-let resi. Investors are switching to commercial assets to get better returns.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – The smaller lot sizes have gone very well since the start of the year. I have sold for L&G in Crawley and had 15 to 16 viewings. The council bought it in the end but we saw a lot of aggressive viewings.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy </b>– We are seeing a lot of the councils buying and it is not council pension fund money buying, but council balance sheet money. The councils previously put money into Icelandic banks so UK commercial property does not look so bad!<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean </b>– The big 80,000 sq ft deals get the headlines yes but from Knight Frank’s point of view we are still about sub 15,000 sq ft on average. All the buildings that you guys are developing have to be sub divisible and let in part and most of those businesses are 100 people or less. So actually the engine room that drives the market isn’t the big deals and I think the leasing advisor now is probably going to say take the deal in hand and get on with it.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – And of course you are derisking the asset if it is multilet.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>James Silver</b> - If you look at the Thames Valley the market is about making space for communities.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – In an occupational market that is more diverse than central London we are not reliant on the banking sector. Financial sectors have been a great part of take up in the last year but actually across the board it is pretty diverse.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Aston Woodward</b> – I think the City will change. If you look at Bloomberg, Soho House, and many other changes due shortly I think the City has got quite a lot to offer. You cannot really question a tenant that occupationally chooses the City. Okay it may not fit your ethos or your culture but it has a lot to offer still. I think the market will be quite interesting because the rents compared to other markets not far from the City make the City look quite good value. It has good fundamentals.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis –</b> What about overall occupational costs?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – We had already seen pre the leave decision people looking at taking elements of businesses out of central London. So keeping a front of house in town and looking at decanting people out.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>James Silver</b> – I haven’t seen any real evidence of it yet.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – In somewhere like Croydon you are seeing it with EDF and HMRC.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b> – Time Inc in Farnborough and Maersk in Maidenhead.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – They actively said they would move people out there. People are more mobile than they have ever been. If you talked to a 24-year-old guy in our office and said you have to go and work abroad I don’t think it would be feared. Staff are more mobile.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Rob Bray</b> – What we are seeing and what we will continue to see is the impact of resi. It has been a fairly amateur market in PDR. We are looking at one now and thought do these guys want to spend £20m on a refurb of this kit in this environment or do they think we will move on and take that money in this environment and buy a bargain somewhere else over the next six to 12 months? So it has almost come back into our hands a little bit. We could not get anybody to answer a phone and then in the last two days we are being asked could you just clarify this and this. Everybody knows the PDR market has had a big effect on supply in a lot of towns, to the detriment I think in some cases to the office market. I got an email from Taylor Wimpey a couple of days ago saying as you can imagine we are taking stock of things and we can’t make a decision on this. But I have others who will jump in if there is an opportunity. There is a massive undersupply and the planning system is slow and cumbersome."<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b>– It is only in the very high residential value areas where it is a problem. We sold an office building about a month ago in Gerrard’s Cross - only 10,000 sq ft at £500 a foot - unconditionally you would have to let it at £45 a foot to the government for 20 years to get the same value and you would have to spend £100 a foot on refurbishing so I think affluent areas around the M25 will continue to see an erosion of office stock and they will move to the big ones like Uxbridge for example. There were four or five businesses who all want to stay in Gerrard’s Cross but they can’t because residential values are so high.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – In St Albans, yes rents have gone up but actually getting a new occupier to relocate into that town is really challenging which could be quite detrimental to the town. So yes from a landlord point of view it is fantastic but actually from an occupier point of view it is a real, real challenge. We have had a couple of things from a refurbishment point of view with a landlord saying let’s just check the PDR thing again.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne –</b> We look for a Plan A and Plan B where an investment asset will also stand up as a resi development. It is a defensive position. It works as a plan A with rental growth coming through and if the occupational market dies then we have a backup option. There are two ways to make a return on the investment.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – Spec development will probably be put on hold.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ed Smith</b> – It will probably be put on hold because there is almost enough coming through.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Aston Woodward –</b> It was almost like the catalyst to it slowing down. It feels like there were a lot of things that are a good stress test for the UK economy. We have some really good people and companies and they will come back fighting as those things they do are on demand on a global basis. We have to be confident in backing the UK.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – Total offices under construction is 3.2 m sq ft. From our stats average take up is 2.6m sq ft. So if there is this pause there will be two schemes being delivered in 2018 so there will be a slowdown in new speculative development. We will see more buildings go out for alternatives whether that is resi or other uses. Tenants want to see more place-making big towns that need some significant redevelopment. If that gets delayed it could be negative for the town.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Which of the locations are primed to win across the South East?</b><o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Aston Woodward </b>– It so much to do with the characteristics. It is amenity, skilled labour force and infrastructure.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>James Silver</b> – It is about being in town centres where you know your staff are going to be happy.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – When they are trying to change structurally it is about different drivers. The infrastructure changes for the South East are quite significant whether it is the Elizabeth Line, the Bracknell town centre regeneration or West Ham in Croydon.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Rory Carson</b> – One thing that might be derailed following the change in Tory leadership is Heathrow.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – Gilt yields are at historic low rates so now is a great time for the Government to be borrowing to fund infrastructure projects.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel</b> – In terms of our risk exposures, we are well spread across sectors and regions. From my understanding of research done by de Montfort, I understand the UK clearers have been focusing more on London over the last 18 months and grown market share there (vs non-bank lenders) where you would have expected increased market share in the regions. We are happy with our footprint: We are a UK wide platform so that is a marked point of differentiation for us and we have been active in the regions as well as backing our share of deals in central London and the South East. We watch to make sure no overexposure in any one area, but otherwise we are not top down strategy driven, but rather borrower and opportunity driven.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Aston Woodward</b> - How are you affected by the competition of overseas lending coming in?<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel</b> – The market share of all of the UK clearers has decreased over the past 6 to 8 years. This is probably no bad thing as it results in a more diverse and liquid debt funding pool. Overseas lenders are part of that diversification trend.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – German banks are not talking about retracting but they will be more conservative lenders in terms of lower LTVs.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Talbot Williams</b> – The lenders who have agreed lending ongoing will complete. But if you go to ask for new terms you are probably not going to get a great deal.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel </b>– UK clearers have seen market share reducing over recent years. As I have said this is probably healthy. I think Brexit may see this market share erosion stabilising if not slightly reversing as overseas lenders may refocus on home markets while the UK clearers continue here. Within Lloyds Banking Group, we have Scottish Widows, our own insurance business, and they remain open for lending where the term is longer-dated, 10 years and above. Pricing is very hard for them just at present as bond prices are very volatile post Brexit, but this will quieten down to allow them to continue. The cost of this longer-dated money has been attractive in the run up to Brexit and we expect this to be the case going forward.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Ryan Dean</b> – On a global basis structurally we are still in a good place.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – How are we going to price property right now? It is still cheap compared to other asset classes so I cannot see yields moving very far. The risk free rate is now the lowest it has ever been – 10 year government bonds are sub 1%. The arbitrage remain irrationally wide.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – Property’s unique selling point is its income return in a lower for longer interest rate environment. There will be more divergence of performance with core income being more defensive and outperforming the more risky, secondary assets which will be vulnerable to value declines. It will take three to six months to discover where secondary pricing settles.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Aston Woodward</b> – I agree on the property side but sentiment is the unknown factor. The discount will be driven not by the value of real estate compared to other asset classes but by UK sentiment and how people feel about life. Secondary property will be under pressure. I do think property in the scheme of things still looks good value. Meanwhile there is likely to be a great period of buying opportunity.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard Bourne</b> – We as an industry have to move forward. RO will continue to look at towns with strong supply and demand fundamentals and I am not going to discount them as a buying opportunity going forward. It will come down to pricing against alternative returns and focusing on our core strategy.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Phil Sturdy</b> – The extra stamp duty costs will encourage investors to hold assets for longer to write off the extra stamp duty costs.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Chris Lewis</b> – That is the risk. How desperate are they to sell. The biggest risk is nothing happens.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Richard MacDowel</b> – The economy has been on a downward trajectory even before Brexit and if you are looking at the yield curve and swap curve it looks like markets expect growth to be tough going forward. We are cautious about where values might get to. All things being equal, the cost of capital has gone up due to volatility and uncertainty. So even if one’s assumptions of real estate cash flows remain constant, values will drop to some extent. But this in itself will provide opportunity for the astute investor community and the key question is by how much values have to drop before they come back in.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">For further information:<o:p></o:p></span></div>
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Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
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01707 601400 / 0207 025 1780<o:p></o:p></div>
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<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Kirsty Allan, Tavistock<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">020 7920 3150<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="mailto:kirsty.allan@tavistock.co.uk">kirsty.allan@tavistock.co.uk</a><o:p></o:p></span></div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">Notes to Editors:<o:p></o:p></span></b></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">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.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><o:p></o:p></span></div>
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<a href="http://www.rorealestate.co.uk/"><span style="font-family: "arial" , "helvetica" , sans-serif;">www.rorealestate.co.uk</span></a></div>
ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-79105941064379737052016-06-27T21:03:00.000+01:002017-02-07T16:13:42.543+00:00RO REAL ESTATE BEGINS SPECULATIVE WEYBRIDGE PROJECT <div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: "arial" , "helvetica" , sans-serif;">27/06/16</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnW_0IpmCPYAYMIxmbKitma23tEbiyzFsxfquyxLvmb43OwyVh9a_bQq8m5obOGourHDDS_4e_YlE1kgl06ykshv8qTRBpugPXzw8_yOoGIZ2i74DUY0C8-XptyTMsKiD1GbbWHDeMC0Tc/s1600/Weybridge.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="208" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnW_0IpmCPYAYMIxmbKitma23tEbiyzFsxfquyxLvmb43OwyVh9a_bQq8m5obOGourHDDS_4e_YlE1kgl06ykshv8qTRBpugPXzw8_yOoGIZ2i74DUY0C8-XptyTMsKiD1GbbWHDeMC0Tc/s320/Weybridge.jpg" width="320" /></a></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Work has begun on RO Real
Estate’s speculative development of Dakota at Brooklands in Weybridge. RO Real
Estate will deliver a self-contained Grade A statement office comprising 35,582
sq ft. Dakota will be prominently situated at the entrance of the business park
which has attracted a number of high profile occupiers including LG, Sony
Europe, Samsung, JTI UK, Daikin, Regus, Proctor & Gamble and Mercedes Benz.
<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Upon completion, which is
scheduled for March 2017, Dakota will offer four floors of high quality modern
office space, with the largest floorplates extending to 11,200 sq ft. Future occupiers will also benefit from the
122 dedicated car parking spaces, 30 cycle spaces and 8 shower facilities that
the building will offer.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Richard Bourne, head of RO Real
Estate said: “It’s proximity to both road and rail means that Dakota is well
positioned to offer unrivalled connectivity to both London and the wider south
east. The location combined with the
high specification of the offices and the car parking provision positions
Dakota to capitalise on occupiers’ needs for quality space and multi-modal
transport options.”<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Rhodri Shaw, partner in national
markets office agency at Strutt & Parker, leasing agents on Dakota, said:
“Weybridge outperformed most of its Surrey neighbours in 2015 in terms of
take-up and demand for space continues. Rents in the town have surpassed their
pre-recession high and record rents now stand at £36.00 per sq ft, illustrating
Weybridge’s appeal to occupiers. Dakota’s ability to offer self-contained Grade
A space within an established business park will ensure that it has
far-reaching appeal to occupiers.”<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Strutt & Parker and New
Ballerino have been appointed as joint agents at Dakota.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">- Ends -</span><o:p></o:p></div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">For further
information:<o:p></o:p></span></b></div>
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Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
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01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Kirsty Allan, Tavistock <o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">020 7920 3150<o:p></o:p></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="mailto:kirsty.allan@tavistock.co.uk">kirsty.allan@tavistock.co.uk</a><u><span style="color: blue;"> </span></u><o:p></o:p></span></div>
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<b><span style="font-family: "arial" , "helvetica" , sans-serif;">Notes to Editors:<o:p></o:p></span></b></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">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.<o:p></o:p></span></div>
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<span class="MsoHyperlink"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><o:p></o:p></span></span></div>
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<span class="MsoHyperlink"><a href="http://www.rorealestate.co.uk/"><span style="font-family: "arial" , "helvetica" , sans-serif;">www.rorealestate.co.uk</span></a> <o:p></o:p></span></div>
ROhttp://www.blogger.com/profile/08763003882020199468noreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-35236877466100410192016-03-01T17:16:00.000+00:002017-02-07T16:13:51.612+00:00RO SELLS GROUND RENT PORTFOLIO01/03/16<br />
<br />
RO Real Estate, the UK commercial property investment and development company, has completed the sale of its residential ground rent portfolio to a private investor for £1.3 million.<br />
<br />
The portfolio comprises the freeholds of 134 flats in five residential blocks in the South of England: Pegasus Court, Acton; Pegasus Court, Harrow; Wilshire Court, Hitchin; Pegasus Court, Rustington; and James House in Ryde on the Isle of Wight.<br />
<br />
The total ground rent income from the portfolio is £54,440 per annum, reflecting a blended net initial yield of circa 4%.<br />
<br />
Four of the blocks were developed in conjunction with Pegasus Retirement Homes, the retirement housing and property developer, in which RO acquired a majority interest in 1998. RO then retained the freehold of the blocks when Pegasus was acquired in 2007 in a management buyout, backed by RBS Equity Finance.<br />
<br />
Richard Bourne, head of RO Real Estate, said: “This portfolio has provided us with a steady income for nearly nine years. However, since selling Pegasus in 2007 the ground rent portfolio is no longer part of our core strategy and we believe that now is the right time to sell”.<br />
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<b>For further information:</b><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<br />
Kirsty Allan, Tavistock<br />
020 7920 3150<br />
kirsty.allan@tavistock.co.ukUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-33105476153318603922016-03-01T17:13:00.000+00:002017-02-07T16:15:19.993+00:00RO COMPLETES OFFICE DISPOSAL IN SURREY01/03/16<br />
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RO Real Estate, the UK commercial property investment and development company, has completed the sale of a 19,737 sq ft office building in Egham, Surrey.<br />
<br />
RO has sold Crabtree Office Village, its four unit office property to House of Hiranandani for £4.3 million (6.9% NIY). Over recent years, RO has fully let the scheme and increased the ERV through asset management and refurbishment.<br />
<br />
This disposal is part of RO’s ongoing strategy to reposition its portfolio by carrying out a rolling disposal programme once the value of assets have been maximised and recycling the proceeds for reinvestment in core income and value-add opportunities in the South East.<br />
<br />
RO Real Estate still has a significant amount of cash to reinvest in lot sizes between £2-5 million.<br />
Richard Bourne, head of RO Real Estate, said: “'We are constantly in the process of optimising the value of our portfolio. This sale is a good illustration of our ability to extract substantial value out of an asset and maximise our returns at exit.”<br />
<br />
CBRE Ltd advised RO and Gerald Eve LLP advised House of Hiranandani on this transaction.<br />
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<b>For further information:</b><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<br />
Kirsty Allan, Tavistock Communications<br />
020 7920 3150<br />
kirsty.allan@tavistock.co.ukUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-12421226740545368512016-02-23T15:55:00.000+00:002017-02-07T16:15:38.592+00:00RO ACQUIRES OFFICE BUILDING IN BRISTOL<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3WIkw5FDPs9wsfDPcI8uOGgFHbzp32q1g8eKTLC2Yd39vKUuReEUNDi6dYvg3JMs4hahrYGYAAyf2bVS3oLYPQr8v26x1YMGgOSZvqn02BYJvhng2teVCWEDnnHdcgu7migHUTy3YfM8/s1600/Bristol%252C+Wyndam+Ct+%25289%2529.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3WIkw5FDPs9wsfDPcI8uOGgFHbzp32q1g8eKTLC2Yd39vKUuReEUNDi6dYvg3JMs4hahrYGYAAyf2bVS3oLYPQr8v26x1YMGgOSZvqn02BYJvhng2teVCWEDnnHdcgu7migHUTy3YfM8/s320/Bristol%252C+Wyndam+Ct+%25289%2529.JPG" width="320" /></a></div>
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<br />
23/02/16<br />
<br />
RO Real Estate, the UK commercial property investment and development company, has completed the acquisition of Wyndham Court in Bristol for £4.53 million from Kennedy Wilson.<br />
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The 28,888 sq ft, four storey office building is leased to Direct Response Ltd at an annual rent of £351,912 which reflects a net initial yield of 7.34%. Located in a prominent position fronting Pritchard Street and directly opposite Cabot Circus, Bristol’s prime retail and leisure destination, the building has excellent transport connections to the city centre with both the central bus station and Temple Meads railway station within walking distance.<br />
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This purchase is part of RO’s strategy to invest in “core” and “value-add” opportunities in the south of England. Following this transaction, RO Real Estate still has a significant amount of equity to invest in lot sizes of £2-5 million.<br />
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Richard Bourne, head of RO Real Estate, said: “Bristol is described as the commercial capital of the south west. The last eighteen months have seen a large shrinking of office stock as approximately 1m sq ft of offices have been converted to residential. On the other side of the equation take up remains strong and consistent. This asset therefore offers an opportunity to acquire a building in a rapidly improving micro location and market, in which we aim to drive rents forward and add long-term secure income to our portfolio.”<br />
<br />
RO Real Estate was advised by Cushman & Wakefield. The vendor was advised by Knight Frank.<br />
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<br />
<b>For further information:</b><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<br />
Kirsty Allan, Tavistock Communications<br />
020 7920 3150<br />
<a href="mailto:kirsty.allan@tavistock.co.uk">kirsty.allan@tavistock.co.uk</a> <br />
<br />
<br />
<b>Notes to Editors:</b><br />
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.<br />
<br />
<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><br />
<a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-76602345178434705662015-12-03T10:54:00.000+00:002017-02-07T16:15:50.566+00:00RO ACQUIRES OFFICE BUILDING IN KENT03/12/15<br />
<br />
RO Real Estate, the UK commercial property investment and development company, has completed the acquisition of a multi-let office building in Sevenoaks, Kent, from Marley Pension Limited. The purchase price of £4.6 million reflects a net initial yield of 6.29%.<br />
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Located in Sevenoaks town centre, the 14,524 sq ft four-storey office building is close to local amenities and Sevenoaks railway station, which provides excellent access to London via Charing Cross, Waterloo and London Bridge stations. <br />
<br />
Current tenants include Hemlow, a commercial company that offer real estate management services, Staff Management, an agency providing care and support for people with physical disabilities, Credence, a professional services business and Brebners, an accountancy, tax and compliance firm. <br />
<br />
This purchase is part of RO’s acquisition programme to invest in “core” and “value-add” opportunities in the South of England. RO Real Estate still has a significant amount of equity to invest in lot sizes of £2-5 million.<br />
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Richard Bourne, head of RO Real Estate, said: “1 Suffolk Way is an excellent addition to the portfolio. The Sevenoaks office market is currently characterised by a limited supply of good quality space and a healthy level of demand. We see this as an excellent opportunity to manage the asset to deliver long-term growth and performance given the location and market characteristics”.<br />
<br />
RO Real Estate was advised by Lambert Smith Hampton. Marley Pension Limited was advised by Stephens Maguire & Company. <br />
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<br /></div>
<br />
<b>For further information:</b><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<br />
Kirsty Allan, Tavistock Communications<br />
020 7920 3150<br />
<a href="mailto:kirsty.allan@tavistock.co.uk">kirsty.allan@tavistock.co.uk</a><br />
<br />
<b>Notes to Editors:</b><br />
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.<br />
<br />
<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><br />
<a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-45382499136561697782015-12-03T10:46:00.000+00:002017-02-07T16:15:59.384+00:00RO LETS 14,000 SQ FT AT LETCHWORTH<div align="center" class="MsoNormal" style="text-align: center;">
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03/12/15</div>
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RO Real Estate, the UK commercial property investment and development company, has completed two new lettings, totalling around 14,000 sq ft of industrial space at Woodside Industrial Park in Letchworth, Hertfordshire. <br />
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RO has leased 6,856 sq ft of space in Unit 20 to Electronic Waste Recycling on a 5 year lease and 6,875 sq ft in Unit 21 to Toolstation, one of Britain's fastest growing suppliers of tools and accessories to the building trade, on a 10 year lease. <br />
<br />
Woodside Industrial Park comprises a modern development of 26 units within the town’s principal commercial and industrial area. It is conveniently located near the station, which provides a 45 minute service direct to London King’s Cross station. <br />
<br />
Richard Bourne, head of RO Real Estate, said: “We are seeing a continued increase in demand for units from both local and regional businesses, which is evidenced by the recent lettings at Woodside Industrial Park. Toolstation is a good example of the type of tenant attracted to Letchworth by the quality of accommodation and its excellent location”.<br />
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<br /></div>
<br />
<b>For further information:</b><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<br />
Kirsty Allan, Tavistock Communications<br />
020 7920 3150<br />
<a href="mailto:kirsty.allan@tavistock.co.uk">kirsty.allan@tavistock.co.uk</a><br />
<br />
<b>Notes to Editors:</b><br />
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.<br />
<br />
<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><br />
<a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-2933659590151431242015-10-28T15:47:00.000+00:002017-02-07T16:16:12.111+00:00RO REAL ESTATE MAKES KEY APPOINTMENT<div class="separator" style="clear: both; text-align: center;">
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<br /></div>
28/10/15<br />
<br />
RO Real Estate, the UK commercial property investment and development company, has made a significant senior hire with the appointment of Nick Moore, former Director of Real Estate at Lloyds Banking Group, as Senior Investment Manager.<br />
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As Senior Investment Manager, Moore will report directly to Richard Bourne, Head of RO Real Estate. Moore’s responsibilities will include obtaining and providing detailed financial and technical investment analysis, identifying opportunities to enhance portfolio performance, progressing property transactions, and providing property investment market knowledge. Moore has more than 15 years’ experience in the commercial real estate industry.<br />
<br />
Moore joins from Lloyds Banking Group (LGB), where he held the position of Director in the Real Estate division. He worked at LBG for almost six years and was leading the delivery of the in house real estate advice to the commercial banking teams. Prior to that, he spent four years at PRUPIM (now M&G Real Estate) working with their Life Fund. He also worked for Warner Estates, and gained his early real estate experience at DTZ in their city agency team.<br />
<br />
Richard Bourne, Head of RO Real Estate, said: “We are delighted to have Nick joining our team. Nick has an extensive understanding of the UK real estate market which will prove invaluable to us as we grow our business. His expertise will support and focus our future investments as we still have a significant amount of cash to invest during the remainder of the year.” <br />
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<div style="text-align: center;">
- Ends -</div>
<br />
<b>For further information:</b><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<br />
Faye Walters, Tavistock <br />
020 7920 3150<br />
<a href="mailto:fwalters@tavistock.co.uk">fwalters@tavistock.co.uk</a> <br />
<br />
<b>Notes to Editors:</b><br />
RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south of England. 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.<br />
<br />
<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><br />
<div>
<a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-75012383606471742292015-10-16T14:21:00.000+01:002017-02-07T16:16:26.804+00:00RO COMPLETES THREE LETTINGS IN BRACKNELL16/10/15<br />
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RO Real Estate, the UK commercial property investment and development company, has completed three lettings at its 21,200 sq ft office building, Amber House on Market Street in Bracknell, generating an additional rent roll of £51,229 per annum. Following these lettings there are only two vacant suites left, one suite providing 1,350 sq ft and the other providing 1,307 sq ft. <br />
<br />
The recent lettings include:<br />
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1,522 sq ft first floor rear suite to Victim Support, a charity that provides help to victims of crime in England and Wales<br />
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2,272 sq ft rear left ground floor suite to Catch 22 Ltd, a charity that works to rehabilitate offenders<br />
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1,287 sq ft rear right ground floor suite to A4E, a leading employment support and training services company<br />
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Page Hardy acted for RO. The others were unrepresented.<br />
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<br />
Amber House is within a minute’s walk of Bracknell’s bus and railway stations and benefits from excellent onsite parking and good quality office space. Other tenants include Jaltek, Infinitt, Quest, Attika, Bracknell Forest Voluntary Action, Northgate, PCS Technology and Mitie.<br />
<br />
Richard Bourne, head of RO Real Estate, said: “We are very pleased to have completed these lettings at Amber House, which are testament to the property’s credentials and our asset management team’s ability to secure high-quality and reliable tenants. The building is rare in Bracknell as it offers open plan office suites of variable sizes, on flexible leases. There are just two vacant units at the property and we have been pleased with the level of occupier interest in both.”<br />
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<div style="text-align: center;">
- Ends -</div>
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<b>For further information:</b><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<br />
Faye Walters, Tavistock <br />
020 7920 3150<br />
<a href="mailto:fwalters@tavistock.co.uk">fwalters@tavistock.co.uk</a> <br />
<br />
<b>Notes to Editors:</b><br />
RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south of England. 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.<br />
<br />
<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><br />
<br />
<a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-9474888247837923722015-07-13T13:14:00.001+01:002017-02-07T16:16:39.684+00:00RO TRADES FIVE ASSETS<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5ozIdJK2M3HN0BsBXrYeY82rn9oQF65L5UprWV81xjApAUYislEa0nQQO1CngfBqOiZ3Haffu6ZmV4YCV0Glp_mYj7DnOpw9aCq8DH3VQOl9IgFTsExHgHvFjYaDwnDBTQUC2MIH5W6mM/s1600/Huddersfield.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5ozIdJK2M3HN0BsBXrYeY82rn9oQF65L5UprWV81xjApAUYislEa0nQQO1CngfBqOiZ3Haffu6ZmV4YCV0Glp_mYj7DnOpw9aCq8DH3VQOl9IgFTsExHgHvFjYaDwnDBTQUC2MIH5W6mM/s400/Huddersfield.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Huddersfield</td></tr>
</tbody></table>
<span style="font-family: inherit;"><span style="font-family: -webkit-standard;">13/07/15</span></span>
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;"><br /></span><br />
<span style="font-family: inherit;">RO Real Estate, the UK commercial property investment and development company, has completed the sale of five properties located mainly in the North East of England for a combined price of £5.46 million.<br /><br />These sales are part of the Company’s ongoing strategy to dispose of non-core assets and reinvest the proceeds into core income and value-add opportunities in order to deliver a high-quality property portfolio with large capital growth potential and a secure income base.<br /><br />RO has disposed of:</span><br />
<span style="font-family: inherit;"><br /></span><span style="font-family: inherit;">A 37,340 sq ft retail and office building in Huddersfield for £2.275 million to MCR Property Group. The property comprises five retail units on the ground floor with four storeys of offices to the upper floors. The building is located within easy walking distance of the central station, Kirklees College and the University of Huddersfield. BNP Paribas Real Estate advised RO and the purchaser was unrepresented.</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">A 25,143 sq ft modern single-let industrial warehouse unit in Sunderland for £1.193 million to Cole Real Estate. The property is located on Rainton Bridge Industrial Estate and is entirely let to Chemviron Carbon Ltd at a yearly rent of £110,400. BNP Paribas Real Estate advised RO and the purchaser was unrepresented.</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">Carlyle’s Court, a 19,207 sq ft mixed-use retail and office investment for £1.6 million to Rally Design. The property is located in the historic city of Carlisle and is fully leased to 16 tenants for a total net rent of £202,200 per annum. BNP Paribas Real Estate advised RO and the purchaser was unrepresented.</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">A 8,545 sq ft industrial investment in Jarrow which was sold at Allsop auctions for £207,500. The property comprises an industrial unit with its own service yard and is located on Shaftesbury Avenue within an established industrial estate, producing a yearly rent of £25,000. </span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">A 1,355 sq ft retail unit based at 2 St Thomas Square, Ryde, Isle of Wight. The property was sold to the Tenant privately for £185,000.</span><br />
<ul></ul>
<span style="font-family: inherit;"></span><br />
<div>
<span style="font-family: inherit;">Richard Bourne, head of RO Real Estate, said: “These disposals follow the completion of our asset management programmes for each property, which included significant refurbishment/extension works and new lettings. We now have around £15-20 million to invest and will continue to invest in assets in strong micro-locations, across the south of England, which we believe will deliver us strong long-term income or which have the potential to add significant value.”</span></div>
<span style="font-family: inherit;"><br /></span>
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<span style="font-family: inherit;"><br /><b>For further information:</b></span><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<span style="font-family: inherit;"></span><br />
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<span style="font-family: inherit;"><br />Faye Walters, Tavistock<br />020 7920 3150<br /><a href="mailto:fwalters@tavistock.co.uk">fwalters@tavistock.co.uk</a><br /><br /><b>Notes to Editors:</b><br />RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south of England. 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.<br /><br /><a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><br /><a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a></span>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-7938035075529092786.post-67147953226011395462015-07-13T13:07:00.000+01:002017-02-07T16:16:54.153+00:00RO TRADES FIVE ASSETS<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNkoKlTiM_UtsbViHibEWOSaCdeRglegv0uafysxcK9GnivWIJ-W85fY2W9hx7Dr_v5dRIqCfdfZIHB3sJLAFbEnYhr0NwIicyYhHQe0mxuHqz5AtKesnVhdGty2XOv-djZ6psW_ePrNc/s1600/Huddersfield.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="300" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNkoKlTiM_UtsbViHibEWOSaCdeRglegv0uafysxcK9GnivWIJ-W85fY2W9hx7Dr_v5dRIqCfdfZIHB3sJLAFbEnYhr0NwIicyYhHQe0mxuHqz5AtKesnVhdGty2XOv-djZ6psW_ePrNc/s400/Huddersfield.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Huddersfield</td></tr>
</tbody></table>
<span style="font-family: inherit;"><br /></span><span style="font-family: inherit;"><span style="font-family: -webkit-standard;">13/07/15</span></span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;">RO Real Estate, the UK commercial property investment and development company, has completed the sale of five properties located mainly in the North East of England for a combined price of £5.46 million. <br /><br />These sales are part of the Company’s ongoing strategy to dispose of non-core assets and reinvest the proceeds into core income and value-add opportunities in order to deliver a high-quality property portfolio with large capital growth potential and a secure income base.<br /><br />RO has disposed of:</span><br />
<span style="font-family: inherit;"><br /></span><span style="font-family: inherit;">A 37,340 sq ft retail and office building in Huddersfield for £2.275 million to MCR Property Group. The property comprises five retail units on the ground floor with four storeys of offices to the upper floors. The building is located within easy walking distance of the central station, Kirklees College and the University of Huddersfield. BNP Paribas Real Estate advised RO and the purchaser was unrepresented.</span><br />
<span style="font-family: inherit;"><br /></span>
<br />
<ul></ul>
<span style="font-family: inherit;">A 25,143 sq ft modern single-let industrial warehouse unit in Sunderland for £1.193 million to Cole Real Estate. The property is located on Rainton Bridge Industrial Estate and is entirely let to Chemviron Carbon Ltd at a yearly rent of £110,400. BNP Paribas Real Estate advised RO and the purchaser was unrepresented.</span><br />
<span style="font-family: inherit;"><br /></span>
<br />
<ul></ul>
<span style="font-family: inherit;">Carlyle’s Court, a 19,207 sq ft mixed-use retail and office investment for £1.6 million to Rally Design. The property is located in the historic city of Carlisle and is fully leased to 16 tenants for a total net rent of £202,200 per annum. BNP Paribas Real Estate advised RO and the purchaser was unrepresented.</span><br />
<span style="font-family: inherit;"><br /></span>
<br />
<ul></ul>
<span style="font-family: inherit;">A 8,545 sq ft industrial investment in Jarrow which was sold at Allsop auctions for £207,500. The property comprises an industrial unit with its own service yard and is located on Shaftesbury Avenue within an established industrial estate, producing a yearly rent of £25,000. </span><br />
<span style="font-family: inherit;"><br /></span>
<br />
<ul></ul>
<span style="font-family: inherit;">A 1,355 sq ft retail unit based at 2 St Thomas Square, Ryde, Isle of Wight. The property was sold to the Tenant privately for £185,000.</span><br />
<ul></ul>
<span style="font-family: inherit;"></span><br />
<div>
<span style="font-family: inherit;"><span style="font-family: inherit;"><br /></span></span></div>
<span style="font-family: inherit;">Richard Bourne, head of RO Real Estate, said: “These disposals follow the completion of our asset management programmes for each property, which included significant refurbishment/extension works and new lettings. We now have around £15-20 million to invest and will continue to invest in assets in strong micro-locations, across the south of England, which we believe will deliver us strong long-term income or which have the potential to add significant value.”</span><br />
<div style="text-align: center;">
<span style="font-family: inherit;"><span style="font-family: inherit;">- Ends -</span></span></div>
<span style="font-family: inherit;"><br /><b>For further information:</b></span><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<span style="font-family: inherit;"></span><br />
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<span style="font-family: inherit;"><br />Faye Walters, Tavistock <br />020 7920 3150<br /><a href="mailto:fwalters@tavistock.co.uk">fwalters@tavistock.co.uk</a> <br /><br /><b>Notes to Editors:</b><br />RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south of England. 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.<br /><br /><a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><br /><a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-21093386176485161122015-03-31T12:22:00.000+01:002017-02-07T16:17:13.403+00:00RO/OAS ANNUAL DEBATE: FOCUS ON SOUTH EAST OFFICES<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEBEwEps_TyMuKTG5f5lj3VBpuYihdfYmIwokFzJDI6NVMmS5U-LZw8G8X069CPM5sBLggekgNuzAfAyJQk07qhA2ul3r9s49wSeZssf7YxPE6rA8HEGTuIKL38M9XnNWYKdcpimCrY68/s1600/southeastofficeslunch.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="236" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgEBEwEps_TyMuKTG5f5lj3VBpuYihdfYmIwokFzJDI6NVMmS5U-LZw8G8X069CPM5sBLggekgNuzAfAyJQk07qhA2ul3r9s49wSeZssf7YxPE6rA8HEGTuIKL38M9XnNWYKdcpimCrY68/s1600/southeastofficeslunch.gif" width="400" /></a></div>
<br />
31/03/15<br />
<br />
The South East office market suffered a “blip rather than a trend” in 2014 as take-up and in particular large deals remained stubbornly modest key players believe, while a significant majority expect recovery this year. This was one of many themes that emerged at this year’s RO Real Estate and Office Agents Society lunch. CoStar News was invited to join an insightful and entertaining debate.<br />
The debate, an annual lunch meeting that discusses key issues affecting the UK office market, focused specifically on South East offices.<br />
<br />
<strong><em>The participants were: Richard Bourne, RO Real Estate, Ryan Dean, Office Agents Society chairman and Knight Frank, Jamie Renison, DTZ, Joel Hawkins, Bell Hammer, Chris Williams, CBRE, Rob Bray, Bray Fox Smith, James Silver, Landid, Paul Norman, CoStar, Edward Smith, Strutt & Parker, Giles Easter, Aberdeen Asset Management, James Thornton, Mayfair Capital, Nick Coote, LSH, Nick Moore, Lloyds Banking Group</em></strong><br />
<strong><em><br /></em></strong>As a scene setter the debate kicked off with the findings of a poll taken of the OAS’s 800 plus members to test the temperature in terms of expectations for the occupier and investment markets across this key office region. Unsurprisingly, a mixture of hope and certainty has driven confidence that the low base for take up in 2014 will be improved upon while there is uncertainty as to whether a stellar year for the capital markets can be improved on. The results were:<br />
<br />
<strong>Do you think office take up in 2015 will be?:</strong><br />
a) more than 2014 – 77%<br />
b) less than 2014 – 10%<br />
c) similar – 13%<br />
<br />
<strong>Investment volumes in 2015 will be:</strong><br />
a) more than 2014 – 47%<br />
b) less than 2014 – 16%<br />
c) similar – 37%<br />
<br />
Richard Bourne of RO began proceedings by saying that both the occupier and development markets had moved on in significant ways since last year’s event and therefore it was great to have individuals from the development, investment and banking world to discuss how the changing dynamics was impacting activity.<br />
<br />
<strong>Ryan Dean,</strong> of Knight Frank and the OAS, chaired proceedings and began by asking:<br />
<strong><br /></strong><strong>“Was the lack of big deals in 2014 a blip or a more worrying trend?</strong><br />
<strong><br /></strong><strong>Chris Williams:</strong> “It is a blip rather than a trend. It was obvious that regionally bigger deals were being done and this was disappointing but we are all aware that there are larger deals waiting to happen for the likes of Amadeus and TK Maxx and we know from our clients that the bigger strategic requirements are not dead.”<br />
<br />
<strong>Giles Easter:</strong> “I think there is a concern that larger occupiers may be have made the jump back into central London and in some cases this change could be better reflected in the South East. Ultimately developing a building starts with the people and ends up with the people.”<br />
<br />
<strong>Nick Coote:</strong> “The key trend is everything is about urbanisation. There will be a rebalance in favour of the Thames Valley thanks to rail infrastructure improvements that are truly significant. And in 2017 when London is rerated it will even out the value of places in the South East and back offices will move out and [the lack of big deals] will be seen as a blip.”<br />
<br />
<strong>Chris Williams:</strong> “The reality is however that businesses can cut people costs more substantially by moving to Glasgow or Cardiff and further afield so this is not a certain factor.”<br />
<br />
<strong>Nick Moore:</strong> “The key in deciding where to locate will always be what is the right solution for my business and the Thames Valley needs to provide this.”<br />
<br />
<strong>Ed Smith:</strong> Ultimately there does come a tipping point in terms of cost and this will happen in favour of the Thames Valley. In Hammersmith rents have soared and whereas some occupiers have been prepared to suffer a rental rise from £35 to £50 per sq ft there are others that will look further afield and we of course are aware that tenants such as Monsoon, Boden and Net A Porter are all considering moving further afield.”<br />
<br />
<strong>Giles Easter:</strong> “It is true that many occupiers are location agnostic and will go where the building is.”<br />
<br />
<strong>Jamie Rension:</strong> “We can see this in Central London where occupiers are looking across all of London to access staff and talent. However they are very often crippled by central London car restrictions.”<br />
<br />
<strong>Nick Moore:</strong> “There is very little supply for large-scale occupiers and that is one of the main reasons for the current blip in large scale deals.”<br />
<br />
<strong>Joel Hawkins:</strong> “You have to know your occupier. Some companies employ young people who want to be closer to London while others employ lots of older people and so will look further out. The point is we have to deliver different buildings in the South East and we have to be able to speculatively build almost in such a way as not to alienate anyone.”<br />
<br />
<strong>James Silver: </strong>“What has been crucial to us [at Landid] is trying to make sure our space offers something different, something akin to the warehouse style developments coming forward in Shoreditch and fringe London locations. Interestingly at Reading and our One The ValpyThe Vaupry development where we thought we would be appealing specifically to younger companies our first tenant which signed up - Maybe - was headed by a 70-year-old engineer boss who loved the space.”<br />
<br />
<strong>Ryan Dean: “So what do occupiers want in the South East?</strong><br />
<strong><br /></strong><strong>Chris Williams:</strong> “There are greater expectations in terms of amenities. Schemes that build in restaurants and retail are succeeding.”<br />
<br />
<strong>James Thornton:</strong> “We are very focused on town centres and the diversity of experience this offers.”<br />
<br />
<strong>Richard Bourne:</strong> “Town centre amenities are crucial for the younger employees.”<br />
<br />
<strong>Jamie Renison:</strong> “Great connectivity is important. The Thames Valley is completely behind the curve at present in terms of public transport and this needs to be addressed.”<br />
<br />
<strong>Nick Coote: </strong>“Good car parking ratios remain crucial to our market. Pepsi recently moved to Green Park, but it also seriously considered a Boultbee town centre scheme in Reading but ultimately decided against this because of the car parking space in comparison.”<br />
<br />
<strong>Joel Hawkins:</strong> “This very much depends. In Uxbridge where we have a scheme tenant car parking is not an issue.”<br />
<br />
<strong>Rob Bray: </strong>“One thing that seems to be overplayed is the lack of appetite for out of town locations. There are still great deals being completed out of town.”<br />
<br />
<strong>Ed Smith:</strong> “The figures do bear this out. According to Strutt & Parker and our figures, 10 years ago 41% of deals completed in town and 59% were out of town. That has now narrowed to 44% in town and 56% out of town. There has really been little change.”<br />
<br />
<strong>Joel Hawkins: </strong>“We think that nine out of 10 times money will go to town centre locations.”<br />
<br />
<strong>Nick Coote:</strong> “That is true. The UK institutions are all buying in-town and selling out of town.”<br />
<br />
<strong>Ed Smith:</strong> “The business parks that will survive will be the big ones.”<br />
<br />
<strong>Richard Bourne: </strong>“Business parks are not necessarily dead. Aztec West is nearly full again with occupiers looking for space with low supply.”<br />
<br />
<strong>Nick Coote:</strong> “It will be all about big floorplates and amenities and transport.”<br />
<br />
<strong>Giles Easter:</strong> “Success will be all about three things - critical mass and scale, single ownership and the amenity.”<br />
<br />
<strong>Nick Moore</strong>: “The focus has to be on asset quality. But at Lloyds we prefer town centres because the threat to the high street means there is more opportunity and with town centres there is a better track record often.”<br />
<br />
<strong>Ryan Dean: Is it an occupier or a landlord market now?</strong><br />
<strong><br /></strong><strong>Chris Williams:</strong> “The central London occupier will start five years in advance looking at its options for moving while we are lucky in the Thames Valley if they start two years in advance. Occupiers have been used to oversupply but that is changing and the balance of power is switching.”<br />
<br />
<strong>Nick Coote: </strong> “Once occupiers go over the gain line now and by that I mean the point at which they have run out of time to find a new office while negotiating the terms they want they have a problem in this market. They simply will not find the value or solution they want.”<br />
<br />
<strong>Nick Moore:</strong> “I wish occupiers understood the value of their own covenants. We could fund prelets quite happily if they did.”<br />
<strong>Ryan Dean:</strong> “There is now a premium being paid by occupiers to take big space.”<br />
<strong>Giles Easter:</strong> “It is fairly balanced between landlord and tenant at present.”<br />
<strong>James Silver: </strong>“We have a preference for multilet schemes and that is a common theme. Investors want to derisk by having a number of rather than one tenant. In the past we would have held out for an 80,000 sq ft to 90,000 sq ft letting at our Urban Building in Slough for instance but that has flipped around and we would more likely do a small letting first.”<br />
<br />
<strong>Ryan Dean: What will happen to rents?</strong><br />
<strong><br /></strong><strong>James Thornton:</strong> “As ever it is all about supply and demand and there must be rental growth this year.”<br />
<strong>Nick Coote: </strong>“A key problem is there is nothing of quality in the £18-£19 sq ft arena which is holding back the market.”<br />
<br />
<strong>Ryan Dean:</strong> The question is do you have to be brave enough now as the landlord to ask for the rent at £34 rather than the current £24 per sq ft because you believe that is what the building is worth?”<br />
<br />
<strong>Richard Bourne:</strong> “Tenants are paying more for good quality space in under supplied markets like Weybridge.”<br />
<br />
<strong>Joel Hawkins:</strong> London is not the Thames Valley. It would be a big test to see whether the Thames Valley can significantly lift quoting rents from where they are.”<br />
<br />
<strong>Ryan Dean - Are we in a good place for 2015?</strong><br />
<strong><br /></strong><strong>Chris Williams:</strong> “2007 was a fantastic year and then of course everything changed. The fundamentals are in place for a strong year again.”<br />
<br />
<strong>James Thornton:</strong> “There is plenty to be optimistic about in the Thames Valley now, particularly with significant infrastructure improvements in the pipeline at the airports and elsewhere.”<br />
<br />
<strong>Giles Easter:</strong> “The reality is those coming to invest in the South East now will have arrived too late in many cases. There was so much fat in the deal before that you could afford to keep your powder dry but with construction costs having lifted it is far more difficult now. If you have done your deal you are sitting pretty however.”<br />
<br />
<strong>Joel Hawkins:</strong> “This has been the slowest and most considered period of development in the South East of any cycle and that has to stand the market in good stead.”<br />
<br />
<strong>Nick Moore:</strong> “We will look to lend. We are looking for track record in our customers and a measured risk profile, particularly focusing on balanced multilet property in town.”<br />
<br />
<strong>Richard Bourne: </strong>“Strip out the 100,000-plus sq ft deals, and the occupier market looks very strong.”<br />
<br />
All of the attendees were asked finally to vote for the location they felt is set for the strongest performance over the next period.<br />
<br />
The most popular was Maidenhead followed by Croydon, Slough, Reading and finally Hammersmith, Cambridge, Weybridge and Oxford.<br />
<br />
<a href="mailto:pnorman@costar.co.uk">pnorman@costar.co.uk</a><br />
<a href="mailto:pnorman@costar.co.uk"><br /></a>
<br />
<div style="text-align: center;">
- Ends -</div>
<br />
<b>For further information:</b><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<br />
Faye Walters, Tavistock Communications<br />
020 7920 3150<br />
<a href="mailto:fwalters@tavistock.co.uk">fwalters@tavistock.co.uk</a><a href="mailto:pnorman@costar.co.uk"></a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-78215049512709527102015-03-02T13:07:00.000+00:002017-02-07T16:17:22.199+00:00RO COMPLETES SOUTH EAST OFFICE DISPOSALS<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7h7JGj1O3JezaGTjBeUH3LicMaMmUonnB5GFLlmf4jN6w9mL9z5tf3XuzrGB7YlKYYdWIlXkTs7MGe_cSGeS2W7QdqiTIcVnIByWOxeMvMiBHdrSfvnt0cVlTrdUwo4ESdwaSGKbxRBA4/s1600/One+Manor+Park.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7h7JGj1O3JezaGTjBeUH3LicMaMmUonnB5GFLlmf4jN6w9mL9z5tf3XuzrGB7YlKYYdWIlXkTs7MGe_cSGeS2W7QdqiTIcVnIByWOxeMvMiBHdrSfvnt0cVlTrdUwo4ESdwaSGKbxRBA4/s1600/One+Manor+Park.jpg" width="320" /></a></div>
<br />
02/03/15<br />
<br />
RO Real Estate, the UK commercial property investment and development company, has completed the sale of three office assets located in the South East of England for a combined price of £7.825 million.<br />
<br />
RO has sold One and Two Manor Park in Reading to Ultima Business Solutions, one of the UK’s leading providers of IT infrastructure solutions, for £7 million.<br />
<br />
The properties comprise a total of 68,000 sq ft of space, located just off Basingstoke Road and one mile from junction 11 of the M4. RO completed a number of asset management initiatives at the office scheme including a major refurbishment of One Manor Park, leading to lettings to ALK Abello and Computer Task Group.<br />
<br />
Lambert Smith Hampton and Knight Frank advised RO and Sharps Commercial advised Ultima Business Solutions on this transaction.<br />
<br />
RO has also sold Fortune House in Egham, Surrey, to Spinnaker for £825,000. The property comprises a 4,754 sq ft self-contained two storey office building. New Ballerino and Vail Williams advised RO and the purchaser was unrepresented.<br />
<br />
These disposals are 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 Real Estate still has a significant amount of cash to reinvest in lot sizes between £2-5 million.<br />
<br />
Richard Bourne, head of RO Real Estate, said: “We will use the cash resources from these disposals to reinvest in a mix of assets which will deliver either high-quality secure income or asset management, development and refurbishment opportunities. We continue to strive towards delivering a high-quality portfolio with large capital growth potential and a secure income base.”<br />
<br />
<div style="text-align: center;">
- Ends -</div>
<br />
<b>For further information:</b><br />
<div class="MsoNormal">
Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
<div class="MsoNormal">
01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a><br />
<br />
Faye Walters, Tavistock Communications<br />
020 7920 3150<br />
<a href="mailto:fwalters@tavistock.co.uk">fwalters@tavistock.co.uk</a><br />
<br />
<b>Notes to Editors:</b><br />
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.<br />
<br />
<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><br />
<a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-7938035075529092786.post-37350530949770017622015-02-27T10:36:00.000+00:002016-06-24T12:42:13.488+01:00THE RO REAL ESTATE AND OAS ROUNDTABLE DEBATE<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghCwOsAhnwZPTh0_Ddn8rnmba2CPb_LGrR0MIL0ZZicJD1t0KwBw42JJiQOtxpLZv8e1ONagNg1eJ21e5NxRvi7DKABGmbZ-lreI6jyNhGwBufiDMQJIO702FyzEQvMCCvi6OCx_jYmzw/s1600/oas.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="70" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEghCwOsAhnwZPTh0_Ddn8rnmba2CPb_LGrR0MIL0ZZicJD1t0KwBw42JJiQOtxpLZv8e1ONagNg1eJ21e5NxRvi7DKABGmbZ-lreI6jyNhGwBufiDMQJIO702FyzEQvMCCvi6OCx_jYmzw/s1600/oas.jpg" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiUOGv59BhitntrjXWBRVujMy7TiAtCiOwzzFmsYVPignXlML3DSQBsB4UANDdSwrUX4CWiavdnkOke7p6L9MgYBLo4hGS9HuvpXx9syhem1UwSF9GnkxGPGJvXirU2xF_hGLDZfVy5dSI/s1600/co.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="53" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiUOGv59BhitntrjXWBRVujMy7TiAtCiOwzzFmsYVPignXlML3DSQBsB4UANDdSwrUX4CWiavdnkOke7p6L9MgYBLo4hGS9HuvpXx9syhem1UwSF9GnkxGPGJvXirU2xF_hGLDZfVy5dSI/s1600/co.png" width="200" /></a></div>
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<br /></div>
27/02/15<br />
<b><br /></b>
<b>THE FUTURE OF THE SOUTH EAST MARKET</b><br />
<br />
RO Real Estate has teamed up with the Office Agents Society and CoStar to sponsor and host a roundtable debate on the South East office market which is taking place today at Mews of Mayfair restaurant. According to a poll conducted by the OAS, confidence is high surrounding the South East office market with 77% of OAS members believing that office take up in the South East will be more than it was in 2014. The survey also showed that confidence was high for investment volumes in 2015 with 47% believing that they will be more than in 2014 and 37% thinking that they will be similar to levels seen in 2014. We are looking forward to seeing what our panel of industry experts has to say on the matter later today!Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-7938035075529092786.post-2111643475817968762015-02-12T10:54:00.004+00:002017-02-07T16:17:41.804+00:00RO ACQUIRES RETAIL ASSET IN BURY ST EDMUNDS<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
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<span style="text-align: start;">12/02/15</span><br />
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RO Real
Estate, the UK commercial property investment and development company, has
completed the acquisition of a retail property in Bury St Edmunds, Suffolk for
£3.425 million, reflecting a net initial yield of 7.16%, from Clearbell, the
private equity real estate fund management business. <o:p></o:p></div>
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The
property is located on 56-58 Cornhill Street in the centre of the medieval
market town of Bury St Edmunds and comprises three retail units over ground,
mezzanine and first floors, totalling 10,184 sq ft of space. <o:p></o:p></div>
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The
building is fully let to Halifax, Harriet’s Café and Laura Ashley, and produces
a combined total rental income of £259,425 a year. <o:p></o:p></div>
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This
purchase is part of RO’s acquisition programme to invest in core income and
value-add opportunities in the South of England. RO Real Estate still has a significant
amount of cash remaining to reinvest in lot sizes between £2-5 million, which
offer the opportunity to add value through active asset management and provide
core income returns for our portfolio.<o:p></o:p></div>
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Richard
Bourne, head of RO Real Estate, said: “This property is located in a prime
pitch, within a strong performing market town with good demand and low vacancy.
In the long term we feel that the asset will be a strong performer with an
opportunity to increase value through future rental growth. The acquisition
also further improves the security and performance of our portfolio. ” <o:p></o:p></div>
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RO Real
Estate was advised by Green & Partners.
The vendor was advised by Bruce Gillingham Pollard.<o:p></o:p></div>
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<b>For further
information:<o:p></o:p></b></div>
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Edward Rowlandson / Nick Moore, RO Real Estate <o:p></o:p></div>
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01707 601400 / 0207 025 1780<o:p></o:p></div>
<a href="mailto:info@rogroup.co.uk">info@rogroup.co.uk</a></div>
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Faye
Walters, Tavistock Communications<o:p></o:p></div>
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020
7920 3150<o:p></o:p></div>
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<a href="mailto:fwalters@tavistock.co.uk">fwalters@tavistock.co.uk</a><span class="MsoHyperlink"> </span><o:p></o:p></div>
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<b>Notes to Editors:<o:p></o:p></b></div>
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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. <o:p></o:p></div>
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<a href="http://www.rogroup.co.uk/">www.rogroup.co.uk</a><o:p></o:p></div>
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<a href="http://www.rorealestate.co.uk/">www.rorealestate.co.uk</a><o:p></o:p></div>
Unknownnoreply@blogger.comtag:blogger.com,1999:blog-7938035075529092786.post-39682404536593045922015-01-19T12:21:00.000+00:002016-06-24T12:42:48.153+01:00RICHARD'S VIEW<div align="center" class="MsoNormal" style="text-align: center;">
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19/01/15<br />
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THE TRIALS AND TRIBULATIONS OF CLOSING THAT PROPERTY DEAL<br />
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On a cold Friday night in early December 2005, I left the office, looking forward to the weekend, content in the knowledge that our £14.775 million sale of the Hemel One office building in Hemel Hempstead would exchange and complete on Monday.<br />
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Unfortunately, the sale never completed. It was not the fault of the buyer renegotiating, nor the emergence of a defect to the building but something far more dramatic. Just after 6am on the Sunday morning of that weekend, the morning after our Christmas party in a Hatfield Hotel, I awoke to a loud rumbling and the building shaking. Either my body was informing me of the hangover that was to ensue or there had been a massive explosion. A few minutes later I received a phone call informing me that the largest explosion in peacetime Europe had occurred at the Buncefield fuel storage facility, causing extreme damage to our office building which was only 150 metres away.<br />
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The question now was where we should go from here. Our priority was to try and salvage the deal with LaSalle. However, as anticipated, the amount of damage made that impossible, despite a rather entertaining call with my counterpart! My instinct was that the only viable option was to reinstate Hemel One, to get the tenants back into occupation, and then to try to sell it all over again. This strategy worked perfectly.<br />
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A few days later, a colleague and I managed to dodge security and road closures to gain access to Hemel One. We discovered that the damage to the 96,000 sq ft building was extensive. The majority of the windows had blown out of their apertures and in some instances the window frames and the glass had blown through the building and were embedded in the concrete walls in the middle of the floors. Strangely some areas of the building looked untouched, with books and pens laid out as left on Friday evening, while other sections of the office had been absolutely destroyed. Fortunately it was a Sunday and no one was in the building. <br />
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Our first job was to recover and rescue emergency items for our tenants and make the building safe. We could then remove tenants equipment and finally begin refurbishment/reinstatement, so that we could retain our tenants and get them back into the building as quickly as possible. It was vital that we got Kodak (our main tenant at the time) back in the building within 12 months, otherwise they would have taken a long term commitment elsewhere. Therefore we had the whole building surveyed to understand the extent of the damage and to quickly produce a specification for the refurbishment. Although the original programme stated 18 months, we got Kodak back in within 12 months, as promised, albeit with some elements of the building being finished later.<br />
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This meant that we successfully managed to retain all of our existing tenants. In addition we managed to lease the remainder of the now Grade-A space on both traditional and innovative, semi-serviced office agreements. Tenants included a number of very well-known companies, including Kodak, Ericsson, Kcom and BP. <br />
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Various asset management and development initiatives led to an increase in the headline rent from £12 per sq ft to £17 per sq ft and a net rental income of £1.46 million a year. <br />
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We also purchased an adjoining 1.5 acres of land from 3 Com in 2008 in order to rationalise parking, improve Hemel One’s frontage and release additional land for development. We set about reconfiguring the estate to provide four self-contained plots, including Hemel One with parking for 465 cars and three self-contained plots of 1.74 acres, 1.8 acres and 1.4 acres, which were sold for £3.45 million to owner occupiers. <br />
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At the end of last year, with a mixture of sadness and relief we finally exited our investment, when we completed the sale of Hemel One to Threadneedle Investments for £17.75 million, reflecting a net initial yield of 7.75%. <br />
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As I walked home that evening I thought of two phrases that perfectly summed up the Hemel One saga:<br />
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“Never count your chickens” and “Success through adversity”
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