RO REAL ESTATE BEGINS SPECULATIVE WEYBRIDGE PROJECT

27/06/16

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.

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.

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.”

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.”

Strutt & Parker and New Ballerino have been appointed as joint agents at Dakota.

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For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@rogroup.co.uk

Kirsty Allan, Tavistock

020 7920 3150

kirsty.allan@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.

www.rogroup.co.uk

www.rorealestate.co.uk

RO SELLS GROUND RENT PORTFOLIO

01/03/16

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.

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.

The total ground rent income from the portfolio is £54,440 per annum, reflecting a blended net initial yield of circa 4%.

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.

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”.

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For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@rogroup.co.uk

Kirsty Allan, Tavistock
020 7920 3150
kirsty.allan@tavistock.co.uk

RO COMPLETES OFFICE DISPOSAL IN SURREY

01/03/16

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.

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.

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.

RO Real Estate still has a significant amount of cash to reinvest in lot sizes between £2-5 million.
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.”

CBRE Ltd advised RO and Gerald Eve LLP advised House of Hiranandani on this transaction.

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For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@rogroup.co.uk

Kirsty Allan, Tavistock Communications
020 7920 3150
kirsty.allan@tavistock.co.uk

RO ACQUIRES OFFICE BUILDING IN BRISTOL

23/02/16

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.

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.

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.

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.”

RO Real Estate was advised by Cushman & Wakefield. The vendor was advised by Knight Frank.

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For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@rogroup.co.uk

Kirsty Allan, Tavistock Communications
020 7920 3150
kirsty.allan@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.

www.rogroup.co.uk
www.rorealestate.co.uk

RO ACQUIRES OFFICE BUILDING IN KENT

03/12/15

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%.

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.

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.

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.

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”.

RO Real Estate was advised by Lambert Smith Hampton. Marley Pension Limited was advised by Stephens Maguire & Company.

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For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@rogroup.co.uk

Kirsty Allan, Tavistock Communications
020 7920 3150
kirsty.allan@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.

www.rogroup.co.uk
www.rorealestate.co.uk

RO LETS 14,000 SQ FT AT LETCHWORTH

03/12/15

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.

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.

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.

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”.

- Ends -

For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@rogroup.co.uk

Kirsty Allan, Tavistock Communications
020 7920 3150
kirsty.allan@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.

www.rogroup.co.uk
www.rorealestate.co.uk

RO REAL ESTATE MAKES KEY APPOINTMENT

28/10/15

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.

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.

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.

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.”

- Ends -

For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@rogroup.co.uk

Faye Walters, Tavistock
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 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.

www.rogroup.co.uk

www.rorealestate.co.uk