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 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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Ends -
For further
information:
Richard Bourne, RO Real Estate
0207 025 1780
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.
