Success Story - Victoria Court
Victoria Court site is an extensive site, comprised of both
retail and commercial property and developed and non-developed units.
The syndicate contributed a total of £2.85m towards the project, with
a minimum individual participation of £25,000.
The investment balance was provided by a non-recourse bank loan facility
arranged for the syndicate by Attivo®, which allowed the investors to
gear their contributions.
Currently, the Victoria Court site includes the following elements:
-
Marks & Spencer - a 10,560 sq ft retail outlet
with a 25 year lease and an upwards-only rent review in 5 years.
The current rent is £189,000 p.a.
-
Vacant restaurant unit - a 2,648 sq ft unit
purchased at vacant possession value. The market rental potential is
£42,000 p.a.
-
Building for conversion – an empty building on the
site that has outline planning permission for conversion into a
restaurant/retail unit
-
24 leasehold apartments - the on-site apartments
generate a total ground rent of £6,000
With expert management and development, we aim to fulfil the potential of
each unit to generate above average returns for our clients within the 10
year scheme.
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