RO COMPLETES LETTINGS TO NHS AND KODAK AT HEMEL ONE

10/06/14

RO Real Estate, the UK commercial property investment and development company, has completed two new lettings totalling 23,675 sq ft at its prime office building, Hemel One in Hemel Hempstead, Hertfordshire.

NHS Herts Valleys Clinical Commissioning Group (HVCCG) has taken 10,366 sq ft on the second floor, on a five-year lease at a rent of £18.64 per sq ft. RO is also undertaking the tenant’s fit out work on their behalf.

HVCCG is a recently-formed clinical commissioning group that comprises all seventy GP practices in the west Hertfordshire region and commissions local hospital services, mental health services and community services such as community nurses and therapists.

Kodak Alaris Ltd has also signed up for a further ten years on 13,309 sq ft on the second floor of the building, located on Boundary Way. It has signed a new reversionary lease from July 2015 at £16 per sq ft. Kodak has been in Hemel One since July 2005.

Hemel One is a high-quality office building, comprising 96,000 sq ft of air-conditioned office space over four floors.

Richard Bourne, head of RO Real Estate, said: “This latest deal demonstrates the quality of the building and services on offer. We continue to retain valued tenants and attract new high-profile businesses to the building. We are delighted to welcome Herts Valleys CCG and to keep the building fully let”.

Knight Frank and Brasier Freeth acted for RO, Aitchison Raffety acted for NHS Herts Valleys Clinical Commissioning Group and ART Surveyors acted for Kodak Alaris Ltd.

RO CONTINUES TO REPOSITION PORTFOLIO WITH LATEST DISPOSAL

02/06/14

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

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

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

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

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

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

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

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For further information:

Richard Bourne, RO Real Estate

0207 025 1780

Richard.Bourne@rogroup.co.uk

Faye Walters, Tavistock Communications

020 7920 3150

fwalters@tavistock.co.uk

Notes to Editors:

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

www.rogroup.co.uk

www.rorealestate.co.uk

RO KICK-STARTS BIRMINGHAM STAYCITY APARTHOTEL SCHEME

23/05/14

RO Real Estate, the UK commercial property investment and development company, has started the development of a £17 million aparthotel scheme at Newhall Square in Birmingham’s historic Jewellery Quarter.

RO has secured a pre-let for the building with Staycity Serviced Apartments, one of the leading serviced apartment providers in Europe. The 30-year lease is part of an on-going expansion for Staycity, which already has over 1,000 apartments across eight European cities including Dublin, Edinburgh, Liverpool, London Heathrow, London Greenwich, Manchester, Paris and Amsterdam. The company is aiming to expand its operations to 5,000 apartments over the next five years.

The 170-room aparthotel building will include a selection of studio and one and two-bedroom apartments all equipped with kitchens and ensuites. The asset will form part of RO’s wider Newhall Square mixed-use scheme, which comprises a mix of new-build and refurbished offices and hotels.

Elias Topping, Buckley Gray Yeoman, Copeland Wedge Associates and Church House Building Services are the design team, with GB Building Solutions appointed as the contractor. The building is expected to be open in May 2015. 

Richard Bourne, head of RO Real Estate, said: “The Staycity development at Newhall Square is in a prime central  location within the historic Jewellery Quarter and close to the Colmore Business District, providing an ideal location for both leisure and business visitors.

“We are very pleased to have secured a pre-let to such a high-calibre tenant as Staycity and it is an endorsement of our ability to identify and deliver attractive speculative developments.”

Staycity CEO Tom Walsh said: “We are delighted to announce this deal, which is an important part of our European expansion strategy. Birmingham is one of the most important business and leisure centres outside London. This property will give us a stronger foothold in the city as the demand for serviced apartments grows.”

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For further information:

Richard Bourne, RO Real Estate

0207 025 1780

Richard.Bourne@rogroup.co.uk

Faye Walters / Jeremy Carey, Tavistock Communications

020 7920 3150

fwalters@tavistock.co.uk

Notes to Editors:

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

www.rogroup.co.uk

www.rorealestate.co.uk

RO ACQUIRES £15 MILLION OF SOUTH EAST PROPERTIES

RO Real Estate, the UK commercial property investment and development company, has completed £15 million of transactions as part of its on-going investment strategy.

RO is repositioning its portfolio by carrying out a rolling programme of disposals and recycling the proceeds for reinvestment in core income and value-add opportunities in the South East.

As part of this portfolio realignment RO has disposed of £6.6 million of its non-core secondary assets outside the South East and acquired £8.6 million of high-quality properties in the South East. These acquisitions offer the opportunity to add value through active asset management, one of the company’s key strengths.

Richard Bourne, head of RO Real Estate, said: “The transactions will improve the quality and performance of our portfolio. We have significant cash resources available and will be actively looking for lot sizes between £2-5 million in the South East, an area we have identified for secure growth and long term potential.”

RO has disposed of:

RO24 Industrial Estate (40,455 sq ft), South Marston Park, Swindon, for £1.89 million to IO Investments

Valley Road Industrial Unit (90,000 sq ft), Harwich to an owner-occupier

Busy Bees Nursery (6,100 sq ft), Stockley Park, for £1.27 million to Merritts Properties

The Engine Room Newhall Square (5,283 sq ft), Birmingham, for £465,000 to Glancy Nicholls Architects 

RO has acquired:

Persimmon House, Brooklands, Weybridge for £4.25 million. The 22,101 sq ft office building is let to Ideal Homes Ltd on a lease expiring in November 2015 at a rent of £475,000 a year, reflecting a net initial yield of 10.56%. RO intends to refurbish and extend the property to provide 31,000 sq ft of grade A office space and deliver a return on cost in excess of 15%.

Travelodge, Taunton, for £2.56 million. The 64-bed hotel is let with 44 years unexpired to Travelodge at a rent of £177,920 a year, which reflects a net initial yield of 6.57%. The lease has uncapped rent reviews to 102.5% of the Retail Prices Index.

KFC and Pizza Hut, Solstice Park, Amesbury, for £1.81 million. The two restaurants and drive-through units comprise 5,802 sq ft of space and are let with 17 years unexpired, producing a rent of £146,625 a year, which reflects a net initial yield of 7.66%.

For further information:

Richard Bourne, RO Real Estate 
0207 025 1780

Richard.Bourne@rogroup.co.uk

Faye Walters / James Whitmore, Tavistock Communications

020 7920 3150

fwalters@tavistock.co.uk

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

www.rogroup.co.uk

www.rorealestate.co.uk

RO COMPLETES SALE OF 53,464 SQ FT SWINDON INDUSTRIAL ESTATE

RO Developments has completed the sale of its RO24 industrial scheme on South Marston Park, Swindon, Wiltshire, with the final tranche of 16 units being sold to IO Investment LLP for £1,889,000.

IO Investment LLP, an asset manager, has purchased 40,445 sq ft of the scheme. RO24 Swindon totals 53,464 sq ft, and RO had previously sold the other five units to owner occupiers.

The sale of RO24 Swindon forms part of RO’s rolling disposal programme, which is commencing now that the company has maximised the value of its existing assets, and leaves the investor/developer hungry for new opportunities with £20m cash to invest across the South East.

RO Developments director Richard Bourne explains: “The sale at RO24 Swindon is part of our strategy to reinvest in new areas of growth and change the orientation of our portfolio into core income and value add opportunities. We are now looking to invest new funds in lot sizes of £2m - £5m. In addition we are keen to consider joint venture opportunities with other investors and developers
on larger projects.”

RO24 Swindon is situated on South Marston Park to the north east of Swindon town centre and within easy reach of both the M4 (Junction 15) and the M5 (Junction 11a) via the A419 dual carriageway.

RO Developments was unrepresented, while IO Investment LLP was advised by Loveday.

4,750 SQ FT OFFICE DEAL COMPLETED

4,750 SQ FT OFFICE DEAL COMPLETED AT CENTRAL BRACKNELL 
OFFICE BUILDING

RO Developments has completed another deal at Amber House, its town centre office building on Market Street, Bracknell, Berkshire. RO has granted a new lease to its existing tenant Mitie Compliance Limited. The company has taken a new lease on the building’s ground floor, and has taken further space on the previously vacant second floor – a total of 4,750 sq ft across both floors until March 2016.

Amber House is within a minute’s walk of Bracknell’s bus and railway stations and benefits from excellent onsite parking, air conditioning, male and female WCs and suspended ceilings. Other tenants include PCS, Infinitt UK Ltd and Bracknell Forest Voluntary Action. The building is now fully let but circa 1,500 sq ft will be available from March 2014.

Richard Bourne of RO said: “Mitie’s decision to renew its lease and take further space at Amber House is testament to the property’s credentials. The property is rare in Bracknell in that it provides open plan, air-conditioned office suites from 700 sq ft to 2,488 sq ft on flexible leases from £10 psf.”

Page Hardy (01344 311344) advised RO Developments. Mitie Compliance Limited were unrepresented.

HEMEL ONE OFFICE BUILDING NOW FULLY LET

96,000 SQ FT HEMEL ONE OFFICE BUILDING NOW FULLY LET FOLLOWING LATEST DEAL

 

 

 

 

RO Developments has just completed a 1,450 sq ft deal at its prime office building Hemel One, located on Boundary Way, Hemel Hempstead, Hertfordshire, meaning the building is now fully let.

City Transport Solutions, which provides on demand temporary replacement vehicles, drivers and haulage services, has leased part of the building’s first loor on a five year lease at a rent of £16 per sq ft or £23,200 per annum.

Hemel One comprises circa 96,000 sq ft over four floors and provides high-quality, air-conditioned office space with large open floor plates which are split into various size suites. The scheme has exceptional amenities including a
restaurant, UPS, generator, 24 hour security and very generous car parking, which has attracted multiple blue chip tenants to the building.

Located in Hemel Hempstead’s prime Maylands Business Area, within 1 mile of the M1 motorway, renowned occupiers include Ericsson, BP, Kodak, ASUS, Wipro, Lorica Consulting, Transcend, Vohkus, Five Go Live and Certus IT.

RO Developments director Richard Bourne commented: “We are delighted to welcome City Transport Solutions to Hemel One and we are very proud that the building is fully let. Occupiers are enjoying the location, amenities and quality of space. Many of our existing tenants are renewing and expanding within the building which demonstrates its attractiveness to occupiers.”

Brasier Freeth and Knight Frank advised RO Developments, City Transport Solutions were unrepresented.