Kyle MacCormick

L1 Property, the UK real estate investment arm of L1 Capital, has completed the acquisition of the 247-unit Equipoint build-to-rent (BTR) scheme in Birmingham for an undisclosed price. CBRE advised the vendor and Daniel Nevies of Oban Group and David Kanter and Daniel Lipman of Mishcon de Reya LLP advised L1 Capital on the transaction.

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HANOVER PLACE | BROMLEY | BR1 **SALE LAUNCHED**   An exciting opportunity to acquire an exceptionally well-connected Greater London landmark property with strong development and repositioning potential. 🎯 Hanover Place offers a unique opportunity to acquire an exceptionally well connected mixed-use investment in Central Bromley. 🎯 Bromley is the main commercial hub for the prosperous Greater London Borough of Bromley. The property is situated within a 2-minute walking distance from Bromley South railway station which benefits from 18-minute access into London Victoria. 🎯 Highly prominent high street location with The Glades Bromley close by and the bustling High Street. 🎯 Striking landmark property totalling 85,727 sq ft (NIA), reflecting 104,278 sq ft (GIA), arranged over two ground floor retail units and four upper office floors. 🎯 Large site area of approximately 1.28 acres (0.51 hectares). 🎯 Multi-let to three office tenants and two retail tenants, providing a WAULT of 3.11 years to expiries and 0.90 years to breaks. 🎯 The property is currently 45% let (excludes the Wilko Retail Limited lease) and produces a rental income of £627,868 per annum, equating to £7.32 per sq ft overall and £24.33 per sq ft on the let office space. 🎯 Excellent town centre car parking ratio with decked car park providing a 1:609 sq ft ratio. 🎯 Positive historic planning pre-application to establish the principles of developing the site, which was supported by the Council. 🎯 Short to medium term redevelopment potential - proximity to commuter station and nearby conversions providing precedent for potential repositioning options including residential, BTR, co-living, senior-living / retirement care, data centres, hotel and self-storage (subject to planning). 🎯 Freehold. Offers are sought in excess of £12,000,000 (Twelve Million Pounds) subject to contract and exclusive of VAT A purchase at this level reflects a low capital value of £140 per sq ft.   For further information, please contact Alex Youell, or myself. #cbrecapitalmarkets #realestateinvestment #investmentopportunity

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Good News from BE News

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▶ In case you missed it... find out 'What Three Words' Matt uses to sum up the market this summer - and why. https://lnkd.in/exZ2Cndt 👌 And join us on 20th June for a midsummer roundup and forecast - link to register in Comments. #propertyexpert #propertymarketing #newbuildhomes #newbuildmarketing #ukrealestate #ukproperty #ukpropertymarketing #ukpropertymarket

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Canary Wharf Group (CWG) has secured a £610 million loan from funds managed by Apollo Real Estate Credit. The London-based property company will use the cash to repay bonds due in 2025 and 2026. The loan is secured against most of CWG's 1.2 million sq. ft retail portfolio, which is currently 97% leased to tenants like Barclays, Morgan Stanley, Citi, J.P. Morgan, and Revolut. CWG's Chief Finance Officer, Rebecca Worthington, said the deal demonstrates the strength of CWG's proposition and performance. She noted that the financing solution from Apollo addresses both near-term and medium-term maturities, reflecting the quality of CWG's portfolio and supporting the stability of its capital structure. This latest £610 million loan is part of over £2 billion in refinancing CWG has secured in the past 12 months, indicating strong lender support. As a result, CWG has no material refinancing needs until 2028 and no significant office refinancing until late 2029. Recent deals include: ▪️ £564 million secured on 1-5 Bank Street (home to Société Générale) until 2029 ▪️ £132 million secured on 15 & 20 Water Street, Wood Wharf ▪️£341 million secured on 25 Churchill Place (offices leased to EY) until 2030 ▪️£80 million for new serviced apartments at 3 & 15 West Lane ▪️£76 million plus a £390 million extension for One Churchill Place (with Barclays lease extension) Canary Wharf is a thriving mixed-use neighborhood home to over 3,500 people, a figure set to double in the next two years. The estate features over 320 shops, 80+ bars/restaurants, and 16.5 acres of public space. The new Vertus Edit aparthotel is also slated to open in 2023. Apollo's Real Estate Credit head, Ben Eppley, said the firm is pleased to provide scaled financing secured against this premier London shopping and leisure destination, demonstrating why leading developers like CWG choose to partner with Apollo. Read more: [https://lnkd.in/e57D8t7v] Construction Wave

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Many thanks to BTR News for sharing the first in a series of new Ascend Properties reports focused on the single-family BTR market. Our PriceHubble analysts collaborated on the report with Jack Wright and Paul Borrmann - Ascend to understand the role of single family housing in meeting the demand for well-managed, secure rental homes. We benchmarked the Ascend dataset against the wider private rental sector in the West Midlands. Ascend publishes this series of reports with The Association for Rental Living to turn the spotlight on institutional investment in single family housing. The analysis is based on our Dataloft Rental Market Analytics dataset, the UK’s most comprehensive source of achieved rents and renter demographics. To find out more about this and PriceHubble’s extensive range of property data performance solutions, book a discovery call today. https://lnkd.in/e5jY-ahb   #NHS #HousingMarket #AffordableHousing #PriceHubble #PropertyMarketInsight #RentalMarketInsight #RentalData

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CBRE UK is seeing several exciting trends in the Southampton office market. Grade A rent rates have jumped to £29.00 per sq. ft. from a previous high of £25.50 per sq. ft and we expect this to continue. The current economic climate is not allowing speculative development in the area; but occupiers and their employees are focusing on quality buildings, which have strong sustainability credentials. Employees want to work in high quality spaces, and employers will need to upgrade accordingly, prioritising wellbeing and sustainability in the workplace. However, just 15 per cent of Southampton’s offices have either an A or B EPC rating and there is a very limited supply of available high-quality offices in the area. Improvement via refurbishment to meet ESG credentials and specification of existing offices is likely to be a focus for many organisations. Similarly, change of use of the poorest buildings as well as occupiers and developers working together to deliver new buildings on a pre-let basis will also be the key to managing the office stock. However, pre-lettings will need to ignore rent market levels and calculate it with reference to the cost of the development’s delivery. #officemarket #prelet #refurbishment

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The beginning of 2024 has been relatively quiet in terms of investment deals closing, following a flurry of transactions at the end of the previous year. There has been a mixed outlook on development activity. While completions have been on the rise in 2023 due to slowing build cost inflation, starts have decreased compared to completions. This indicates that investors are focusing more on existing projects rather than starting new ones. However, the number of homes in construction and permission stages shows promise for starts and completions in the future. These upcoming schemes will be crucial in addressing local housing needs, as our analysis indicates that many Build to Rent (BtR) movers come from the same or nearby areas. Our research also reveals that tenants are more willing to move to BtR properties compared to other forms of Private Rented Sector (PRS) housing. This highlights the appeal of BtR schemes to renters beyond just the opportunity to live in a new home. The main challenge moving forward is to address the bottlenecks in the delivery pipeline in order to meet the high demand. For more information, visit:

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The latest Savills Residential Property Market Forecasts reveal promising trends for property investors, particularly in the North West. According to their five-year outlook, the North West is expected to outperform other regions in the mainstream capital value forecast, making it an ideal location for property investment. In contrast, London is anticipated to see the slowest growth, highlighting the shifting dynamics within the UK housing market. For those who have already invested in thriving cities like Manchester and Birmingham, this forecast reinforces the strong potential for capital appreciation and sustained demand. For investors looking to capitalise on these trends, now is the perfect time to get in contact and start your journey with Red Cardinal Property Investment. Our expert team can guide you through the process, helping you to strategically position yourself in high-growth areas like Manchester and Birmingham. With the North West set to lead the way in capital value growth, there has never been a better time to explore the opportunities and secure your stake in this flourishing market. #RedCardinal #Savills #Propertyforecast #Property #Birmingham #Manchester

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As a leisure surveyor I was interested to read the latest Savills Spotlight: UK Leisure - 2024 research report which came out last month. The research demonstrates the overall resurgence of the leisure and hospitality sectors over the last 12 months against economic headwinds. Some interesting points from the research 👇 ⬆ Entertainment (including membership clubs, cinemas, ticketed events and tourist attractions) in 2023 witnessed a noteworthy surge, peaking in July at an impressive 240 basis points above the mean for February 2020 pre-pandemic levels. ⬆ Similarly, spending on pubs, and fast food consistently exceeded pre-Covid benchmarks, hitting a high of 400 basis points in the summer months. Interestingly, spending on restaurants declines as pubs emerged as favoured venues over more formal dining establishments, suggesting a preference toward more casual and affordable dining experiences. ⬆ Competitive socialising and immersive experience offerings continue to see growth and significant consumer demand. ⬆ The out-of-town F&B sector is experiencing strong growth, with 733 new openings recorded in 2023. In part this has been driven by the increasingly popular drive-thru format. With good news for investors as average annual headline rents on new F&B drive-thrus increased 25.9% in 2023 on the previous year and vacancy rates are particularly low at 4.6%. The report can be found here: https://lnkd.in/ePuHzJpG 🍻🍽️ 📈 Get in touch if you require advice in this sector and I would be happy to help. Avison Young #MarketInsights #ConsumerSpending #EconomicRecovery #LeisureIndustry

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#JDWJournal | Head of Sales, Jimmy Waight discusses how the peak of the spring market presents an opportune time for both buyers and sellers to make significant moves in the property market. Click here to read more 👇 https://lnkd.in/epF-zPwY #johndwood #spring #sales #estateagent #property #propertymarket

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Redevco has made a game-changing move in the retail property sector with its £518 million acquisition of a 16-property retail park portfolio from Oxford Properties. This strategic expansion adds nearly 200 assets to their pan-European portfolio, solidifying their position as a leading retail park asset manager in Europe. Learn more about this landmark transaction and its impact on the market: https://lnkd.in/dgaKSJC4 #RealEstate #RetailParks #PropertyInvestment #CRE #PropTech

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INVESTOR NEWS: Oaktree Capital Management, L.P. Capital Management, an investment management company; Greycoat Real Estate LLP Real Estate, a full-service independent property partner; and Homes England have announced the creation of a £250 million ($314 million) master developer joint venture.

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Savills recently published a revised house price forecasts for 2024–2028. Improving economic outlook and lower debt costs boost house price growth prospects. The UK housing market has performed more strongly than many anticipated so far this year. https://zurl.co/xi4e #UKHousingMarket #RealEstateTrends #Pauzible

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🏡 Guernsey's Residential Property Prices Bulletin for Q3 2024 can be viewed here → https://bit.ly/QRPPQ32024 The main highlights show: ⦿ The mix adjusted average purchase price for the Local Market properties transacted during the third quarter of 2024 was £609,723, 3.8% higher than the previous quarter but 5.9% lower than the third quarter of 2023. The four quarter average was 40% higher than five years previously. ⦿ There were 165 Local Market transactions during the third quarter of 2024, 20 more than the previous quarter, and 27 more than the third quarter of 2023. ⦿ The four quarter rolling average time between a Local Market property becoming available for purchase and its subsequent sale was 221 days for properties purchased in the third quarter of 2024, compared with 164 days in the third quarter of 2023. ⦿ The difference between the maximum advertised prices compared with the final sale prices of Local Market properties increased this quarter. The final sale price was, on average, 7.2% lower than the maximum advertised price in the third quarter of 2024, compared with 5.9% a year previously and 6.9% in the third quarter of 2019. ⦿ 0.6% of Local Market purchases during the third quarter of 2024 had been built in the previous twelve months. This compares to 7.2% in the third quarter of 2023. ⦿ The raw median price (realty only) of the 16 Open Market transactions in the third quarter of 2024 was £1,958,288, compared with £1,443,438 in the third quarter of 2023. ⦿ The mix adjusted average rental price for Local Market properties was £2,054 per calendar month in the third quarter of 2024, 4.2% higher than the previous quarter, 7.6% higher than the third quarter of 2023 and 47.5% higher than five years previously. If you would like to find out how much you can borrow or indeed how much you could save by switching providers, feel free to get in touch with our experienced and knowledgeable advisors. Contact us on 01481 727347 | [email protected] or go to our website www.oraclefinance.gg for more info.

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