RO COMPLETES NEW LETTINGS AT STAINES OFFICE BUILDING

28/11/14

RO Real Estate, the UK commercial property investment and development company, has completed two new lettings, totalling circa 3,000 sq ft of space at Staines One in Staines-upon Thames, Surrey.

ASG Software Solutions has taken 2,764 sq ft on the second floor of the building, on a 5 year lease at a rent of £76,010 (£27.50 psf) with half-rent in the first 2 years.

United Closures and Plastics Limited (UCP) has taken a further 192 sq ft of space on the ground floor and it has signed a new reversionary lease on the existing 630 sq ft from December 2015, both at a rent of £27.50 psf.

Staines One is a three storey self-contained office building, with 8,095 sq ft of air-conditioned office space and secure parking for up to 33 cars. It is conveniently located near the station which provides just a 35 minute service direct to London Waterloo Station. RO Real Estate refurbished the building in 2009 and since then Staines One has always let well. There is currently only 336 sq ft available.

Richard Bourne, head of RO Real Estate, said: “These new lettings are testament to the quality of the building as we continue to retain tenants at Staines One. This positive result is in line with our strategy of buying well located assets which will let well and can be improved through active asset management.”

New Ballerino acted for RO, while Dixon Wright acted for ASG Software Solutions. UCP were unrepresented.

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For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@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 SELLS HEMEL ONE OFFICE BUILDING TO THREADNEEDLE

17/11/14

RO Real Estate, the UK commercial property investment and development company, has completed the sale of its 96,000 sq ft office building in Hemel Hempstead, Hertfordshire, to Threadneedle Investments for £17.75 million, reflecting a net initial yield of 7.75%.

Hemel One on Boundary Way is a grade A office building, comprising 96,000 sq ft of space over four floors. The building is fully let to a range of well-known companies, including Ericsson, Kcom and BP with an average weighted unexpired term of 5.4 years to expiries and 2.6 years to breaks.

Since acquiring the property in 2005 from 3Com, RO Real Estate has added significant value through a number of initiatives, including a comprehensive refurbishment, which have led to an increase in the headline rent from £12 per sq ft to £17 per sq ft. The property has delivered a net rental income of £1.46 million per annum.

Richard Bourne, head of RO Real Estate, said: “Hemel One has been a classic RO refurbishment and asset management play. We were able to refurbish the building, retain tenants and then lease the remainder of the space on traditional and innovative, semi-serviced office solutions.

“We are actively seeking similar value-add opportunities in the South East where our skill-set and experience will enable us to generate income and capital growth”.

Knight Frank acted for RO Real Estate, while Deloitte acted for Threadneedle.

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For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@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

RICHARD'S VIEW

03/11/14

WHAT MAKES A SERVICE STATION AN ATTRACTIVE ACQUISITION?

Beauty is in the eye of the beholder. To the general public a petrol filling station is not a particularly interesting acquisition, but to the canny property investor it can offer a lot more than the eye can see.

A service station in the right location and let on a strong covenant provides a strong investment and can provide the potential for adding value and planning an alternative, higher-value use in the future.

As an example, RO Real Estate has just acquired Westacre Services, an Esso petrol filling station and convenience store on the A36, which is one of the major routes in and out of Salisbury towards Wilton and the A303.

Whenever we look to make an acquisition we focus on two things: is the asset in a strong location and does it offer covenant strength?

Westacre ticks both boxes, but it also offers a lot more. The property is currently let to Flying Visit Limited on a 15 year lease at a rent of £150,705 a year, providing a net initial yield of 7.46% after costs.

However, we discovered that there are a number of fuel sale and retail operators, that are keen to secure a position on the prominent site. In addition, the site also has excellent prospects for residential conversion in the longer term. This creates for us strong long-term income with the potential to add significant value.

We look at the end potential of every asset, and a service station is definitely one which has much more to offer than initially meets the eye.

RO ACQUIRES OFFICE BUILDING IN CAMBRIDGE

20/10/14

RO Real Estate, the UK commercial property investment and development company, has completed the acquisition of Discovery House, a 9,094 sq ft office building in Cambridge, for £2.85 million from Turnstone Estates.

Discovery House is located on Vision Park which is conveniently situated approximately three miles north of Cambridge city centre in the affluent village of Histon. Vision Park is a popular and established business park benefitting from close proximity to road and rail transportation links which further offer direct lines to Kings Cross and Liverpool Street.

The property is currently let to Internet Watch Foundation Limited on a 10 year lease (from 12 May 2014) at a rent of £203,625 a year, providing a net initial yield of 6.75% after purchaser costs.

This purchase is part of RO’s acquisition programme to invest in core income and value-add opportunities in the South East of England. RO Real Estate still has a significant amount of cash remaining to reinvest on lot sizes between £2-5 million, which offer the opportunity to add value through active asset management.

Richard Bourne, head of RO Real Estate, said: “There is high demand for this type of quality office space in Cambridge and a lack of supply means that there is the potential for future rental growth which will provide long-term secure income for our portfolio”.

RO Real Estate was advised by Hoddel Stotesbury Morgan. The vendor was advised by Finn and Company.

-          Ends    -

For further information:

Edward Rowlandson / Nick Moore, RO Real Estate 

01707 601400 / 0207 025 1780

info@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 COMPLETES THE DEVELOPMENT OF HEMEL PARK

22/09/14

RO Real Estate, the UK commercial property investment and development company, has completed the sale of the last remaining plot at Hemel Park, Boundary Way, Hemel Hempstead.

RO has sold the 1.74 acre Plot 1 at Hemel Park for £1.6 million to Private One Stop Doctors Ltd, achieving close to £1 million per acre.

Private One Stop Doctors Ltd will construct a private medical facility on the site which will be in accordance with RO’s agreed design brief and specification.

This disposal follows the sale of Plot 2 to Imagination Technologies Ltd for £1,050,000 + VAT and the sale of Plot 3 to Trustees of DIME holdings retirement benefit scheme for £1,190,000 + VAT. These plots have been developed-out by owner occupiers for a data centre and trade only builder’s merchant.

Richard Bourne, head of RO Real Estate, said: “This disposal completes our interest in Hemel Park and demonstrates how popular this high-quality site has been with occupiers. We have achieved a strong return on our investment and it reiterates our ability to source assets in strong locations and to add value through asset management, refurbishment and development”.

RO Real Estate was unrepresented. Private One Stop Doctors Ltd was advised by Brasier Freeth.

RO Real Estate purchased the 7.5 acre Hemel Park estate in 2005 before purchasing an additional 1.5 acres from 3 Com in 2008. RO reconfigured the estate to provide four self-contained plots including the 100,000 sq ft Hemel One office building with parking for 465 cars and three self-contained plots of 1.74 acres, 1.8 acres and 1.4 acres.

RO Real Estate secured planning and produced a design brief and specification for each plot and unit to ensure consistency and a high quality of design throughout the park. RO Real Estate refurbished the 100,000 sq ft office building in 2005 and 2007 and has subsequently let the entire building to a variety of tenants including BP, Ericsson, K Com and NHS.

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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 ACQUIRES SALISBURY SERVICE STATION

11/09/14

RO Real Estate, the UK commercial property investment and development company, has completed the acquisition of Westacre Service Station in Salisbury, Wiltshire, for £1.9 million from Aureus Property Limited. 

Westacre Services is an Esso fuel filling station and convenience store located on the A36 Wilton Road, which is one of the major routes in and out of Salisbury towards Wilton and the A303. The property is currently let to Flying Visit Limited on a 15 year lease (from March 2010) at a rent of £150,705 per annum, providing a net initial yield of 7.46% after purchaser’s costs.

In addition there are a number of fuel sale and retail operators keen to secure the prominent site and it also has excellent prospects for residential conversion in the future.

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 will continue this programme throughout 2014 and 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.

Richard Bourne, head of RO Real Estate, said: “This acquisition will help improve the quality and performance of our portfolio as the opportunity offers long term secure income in a strong location with future potential to add value”. 

RO Real Estate was advised by HSM Chartered Surveyors. Aureus Property Limited was advised by Barber Wadlow.  

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 REAL ESTATE HIRES NEW INVESTMENT SURVEYOR

01/07/14

RO Real Estate, the UK commercial property investment and development company, today announces the appointment of Ben Robinson MRICS as Investment Surveyor. In his new role he will report directly to the Head of Property, Richard Bourne.

Ben, who is 26 years old, joins from Scarborough Group where he spent four years working as an Asset Management Surveyor, responsible for a portfolio of 35 commercial properties across England. Prior to that, he worked as a Valuation Surveyor in Cushman & Wakefield’s Prague office on his placement year from The Nottingham Trent University.

Richard Bourne, Head of Property at RO Real Estate, said: “Ben’s appointment will help us deploy the £35+ million of cash we are looking to invest during the remainder of the year in lot sizes of £2-5 million across the South East. Ben will also be responsible for our bi-annual portfolio valuations and providing detailed market analysis to help support and focus our future investments.”

-    Ends    -

For further information:

Richard Bourne, RO Real Estate

0207 025 1780
Richard.Bourne@rogroup.co.uk

 Faye Walters, Tavistock Communications

020 7920 3150
fwalters@tavistock.co.uk

Notes to Editors:

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

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

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. 

-          Ends    -

For further information:

Richard Bourne, RO Real Estate

0207 025 1780

Richard.Bourne@rogroup.co.uk

Faye Walters, Tavistock Communications

020 7920 3150

fwalters@tavistock.co.uk

Notes to Editors:

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

www.rogroup.co.uk

www.rorealestate.co.uk

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.”

- Ends    -

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

14/02/14

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