Kwik Fit Portfolio, UK

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Investment Date
Q4 2014

Exit Date
Q3 2017
(Realised)

Asset type
Roadside retail

Revcap strategy
Core Plus

Revcap Fund
HCP I

Investment Type
Core Plus Capital

Background and Opportunity

  • Acquisition from an institutional seller and a private family of 91 roadside retail units let on a long term basis to Kwik Fit, a roadside tyre and exhaust specialist
  • 522,000 sq ft of property acquired with a WALT of 17 years, a favourable rent review structure and an extremely diverse geographic profile
  • Business plan to actively manage the portfolio, seeking to exploit redevelopment opportunities whilst collecting a solid income stream

Transaction Progress

  • A number of weaker assets were sold in auctions and private treaty sales

Current Status

  • Remaining portfolio was sold to an overseas institutional investor in Q3 2017 at a price ahead of business plan

Back to Core Plus Capital

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