Hanover Place, Bromley, UK

UK-flag-300x175

Investment Date
Q2 2016

Exit Date
Q3 2021
(Projected)

Asset type
Office / Retail

Revcap strategy
Core Plus

Revcap Fund
HCP II

Investment Type
Core Plus Fund

Background and Opportunity

  • Acquisition from a long term institutional holder of an 87,800 sq ft mixed use building on Bromley High Street in south east London
  • Property was 94% let to 6 tenants with 62% of the income from offices on 4 upper floors and 38% of the income from high street retail
  • Business plan to actively manage the asset, leasing vacancy and managing the property towards a market rent whilst collecting a good income stream

Transaction Progress

  • Reversionary rents in part of the office space has been secured
  • Reversionary leases and re-gears being negotiated with key tenants

Current Status

  • Managing the property in accordance with the business plan

SIMILAR INVESTMENTS

  • Santander Portfolio, UK
  • Thames House and Vinopolis, London, UK
  • Empiric Student Property, UK
  • Ocean Point, Edinburgh, UK