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.

- 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 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