Off-market purchase, administration driven

Reading

At a glance

Region:

South East

Purchase price:

£9,900,000

Net Initial Yield:

Sector:

Industrial, Development

51.45289382237448

-0.8934007391602719

Why we invested

An attractive off-market purchase of a large, in-demand industrial site, with the tenant in administration. Clear scope to redevelop and grow the capital value.

Demand for industrial sites in Reading is very high – and supply is low
A 7.6 acre-site, with 138k sqft of industrial floor area

How we’re building wealth

Business plan

Agree a three-year lease with the tenant once the administration completes
Formalise an existing sub-letting and sell the site as a medium-term investment
Sell part of the holding to a residential developer
Drive rents through the breaks and/or when the lease expires
Put in place a twin-track debt process that minimises completion capital

Exit

Moved quickly to recognise demand from developers and land value changes
Ensured the investment was “ready to sell” at anytime to take advantage of motivated buyers
Sold ahead of business plan

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Our portfolio

Fixed ideas hinder the search for value. At Boundary, we are active across all sectors and our strategies reflect this flexibility. Some are led by capital value - involving tax or corporate entity restructuring, refurbishment or development. Others focus on maximising income, with the emphasis on improving rental levels and lease duration through active asset management. We are focussed on releasing value through inventive strategies and impeccable execution. Our portfolio reflects the success of this approach:

Kingston

M25 Inner

Superbly situated, easily enhanced

Office, Studio, Lab space, Residential development

Leamington Spa

West Midlands

Strong yield, short supply

Office, Retail

Guildford

South East

Hidden value, clear direction

Office, Retail

Camberley

M25 Outer

Realigning rents, enhancing experience

Industrial

Plymouth