RO Real Estate Press: November 2016

Monday, 28 November 2016

RO COMPLETES TWO LETTINGS AT KATHERINE HOUSE, HERTFORDSHIRE

28/11/2016

RO Real Estate, the UK commercial property investment and development company, has completed two lettings, totalling 6,060 sq ft of office space at Katherine House in Potters Bar, Hertfordshire, generating an additional rent roll of £120,340 p.a.

RO has leased 2,443 sq ft of space to Next Step Care Management, a nationwide organisation offering alternative residential accommodation to young people, on a 10 year lease. A P Xpress, a design company supplying printed labels to the fashion industry, has taken a further 3,617 sq ft of space on a 10 year lease.

Katherine House is a 3 storey self-contained office building, offering allocated parking for up to 18 cars. It is conveniently located near Potters Bar railway station which provides a 30 minute service direct to London Kings Cross Station.

Richard Bourne, head of RO Real Estate, said: “We are pleased to have secured full occupancy at Katherine House. These lettings demonstrate the momentum across our portfolio and the intensity we strive to put into all our asset management activity. The proximity to the mainline station and the availability of parking were key factors.”

Brasier Freeth LLP acted for RO, while Next Step Care Management and A P Xpress were unrepresented.

- 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, with a portfolio of more than £8 million of properties. It is the property division of the RO Group, which was founded in 1932 by Stanley Graham Rowlandson. His innovative attitude to business has been carried forward by his son, and current Chairman, Richard Rowlandson, who used the Group’s property and retailing experience to develop over 40 neighbourhood centres in the 1980s and 90s and 30 Pegasus Retirement Homes in the 2000s. Now Graham’s grandson and current Group Managing Director, Edward Rowlandson has grasped the mantle overseeing the Group’s investment in various entrepreneurial ventures which in addition to commercial property investment include residential development and high quality holiday lodge parks.

www.rogroup.co.uk

www.rorealestate.co.uk

Thursday, 24 November 2016

RO SELLS POUNDLAND STORE IN DUDLEY

24/11/2016

RO Real Estate, the UK commercial property investment and development company, has completed the sale of a 31,667 sq ft Poundland store in Dudley, West Midlands to B&M Retail Ltd for £1.925 million.

The property comprises 31,667 sq ft of space over three floors and is situated on the prime pitch in the High Street which benefitted from a multi-million pound improvement programme in 2015. Dudley is well located to the east of the M5 motorway and there are good rail services from Dudley Port via Birmingham to London. Nearby occupiers in the High Street include Boots, Santander, HSBC, Peacocks, Barclays Bank, Bon Marche, Superdrug, Wilko and Ryman.

RO completed a number of asset management initiatives at the retail property including a refurbishment and reconfiguration of the unit as well as a new roof. In addition the store has recently had an extensive new fit out by 99p Stores.

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 £2-7 million.

Richard Bourne, head of RO Real Estate, said: “The successful disposal of this property is in line with our strategy to maximise value and recycle the proceeds into new asset management opportunities. We secured a 10 year lease to Poundland and improved the quality of the unit, therefore now was the right time to sell.”

Lambert Smith Hampton advised RO and B&M Retail Ltd were unrepresented on this transaction.