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Portfolio example: Council Offices, Worcester County Council

A strategically located office investment near the County Hall and Royal Hospital on a long lease to Worcester County Council (part sublet to the NHS) for a term certain of 17 years with the rent reviewed every 5 years to open market value. Bought for an overseas family office and part of an initial £35m diverse commercial real estate portfolio acquired for the client by STR and actively managed by the team alongside the principal.

Portfolio example: CACI, West Kensington

A refurbished warehouse style office let to a strong covenant with 14 years remaining on a full repairing and insuring lease with 5 yearly OMV rent reviews. Acquired for a family Trust for c.£15m.

Portfolio example: Rontec / Costa Coffee, Selby

A newly constructed petrol filling station leased to two excellent tenants for a WAULT of over 15 years with rent reviews every 5 years linked to the Consumer Price Index (CPI) and fixed annual uplifts. Acquired for c.£5.6m as part of a real estate portfolio of £50m+ which STR reprofiled over an 18-month period, extending the average lease duration, introducing indexed linked/fixed uplift rent reviews, and enhancing the overall tenant profile.

Portfolio example: Office, Portland Mews, Soho W1

A rare warehouse conversion in the heart of Soho acquired for an owner occupier.

Portfolio example: Coop, Greater London

A newly constructed convenience store let to the Coop Food Group Ltd for 15 years with 5 yearly rent reviews linked to CPI. Bought and managed on behalf of an established family office who were seeking to extend and improve the quality of their portfolio’s revenue stream.

Portfolio example: The Range, Aldershot

A freehold retail warehouse situated in Aldershot, Hampshire leased to CDS (Superstores International) Ltd t/a The Range. With over 10 years left on the lease and with 2.5% pa compounded rental uplifts every 5 years, the property was acquired for £4.35m, 7.0% net initial yield, and subsequently sold 2 years later for £5.55m.

Portfolio example: BMW, Maidenhead

Acquired for an existing client in 2023 to replace a more substantial office investment we sold on their behalf in July 2022. A short walk from Taplow’s Elizabeth Line railway station and fronting the busy A4, the investment is well located and operated by a highly profitable BMW franchisee in occupation on a long lease with over 14 years unexpired and index linked rent reviews.

Portfolio example: Volvo Preston

A newly constructed state of the art car showroom and servicing facility operated by one of the UK’s largest independent car franchises. Leased for a fixed term of 20-years the rent is reviewed every 5 years in line with CPI. This asset forms part of a much larger portfolio entirely owned by a single family office; the properties contained within the portfolio are strategically managed and continually reassessed for suitability by STR.

Portfolio example: Camden

Two separate acquisitions off two different landlords completed the purchase of this Central London freehold mixed investment in late 2022. Providing a relatively high combined net initial yield for this popular part of London and with near term rent reviews offering immediate reversionary potential, this asset now forms part of a wider portfolio and was specifically acquired with the next generation in mind.

Portfolio example: Starbucks, Belvedere

A reversionary investment with a long unexpired lease term to a strong covenant and indexed linked rent reviews. Acquired for a private investor in the summer of 2022 as a long term hold, the investment has strong embedded value in the event that the tenant chooses to vacate when the lease expires in over 13 years’ time.

Portfolio example: Secretary of State, Totton.

Secure reversionary income for a further 15 years with embedded value in the event the tenant vacates the property at the end of the lease or some time thereafter. Bought for a single family office as part of a larger portfolio.

Portfolio example: Mecca Bingo, Dundee

Acquired for an existing private client. Extended the lease to a rebased affordable rent and exited within 24 months, delivering an IRR of 19% pa.

Portfolio example: Crown Packaging, Newcastle upon Tyne

Newly refurbished and occupied by one of the largest metal food and drink packaging manufacturers in the world, this investment had a long unexpired lease term in a popular and established industrial location, and was acquired for a private client in 2018 as part of his wider portfolio and was sold in 2021 to show an IRR of c.10% per annum.

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