Regional deals: 7 January 2016

The transactions listed below are a selection of deals from throughout the UK recently added to EGi. EGi provides the market’s leading comparables database, fully researched and updated with more than 5,000 new results each month SIGNIFICANT DEAL Chosen by James Fairweather, head of industrial and logistics, Strutt & Parker Units 1 & 2 Vickers Drive, Weybridge, KT13 0YU Size 87,000 sq ft Vendor Aberdeen Asset Management Purchaser Elmbridge Borough Council Price £13.21m Net initial yield 4.75% Elmbridge Borough Council’s acquisition of the two logistics units, which total 87,000 sq ft, is indicative of its plan to become more financially resilient so that it is less dependent on central government for its funding. An important element of this plan is to invest in local income-producing commercial property, thereby increasing its overall revenue income. By acquiring the properties, which are let to John Lewis and produce a passing rent of £700,000 per annum, a rental uplift in March 2018 and unexpired lease term of 6.65 years, the council has gained a strategically located investment that produces a secure income and has good growth prospects. We are likely to see more transactions of this nature undertaken in 2017 as local authorities adopt this approach to both invest in industry and development in their local areas and produce revenue. • Send significant deal suggestions to stacey.meadwell@estatesgazette.com OFFICES Laxford House, Cradlehall Business Park, Inverness IV2 5GH Size 3,821 sq ft (355m²) Date of deal 22/11/2016 Rent £60,000 pa, 10-year lease Lessor J & L Rokeby Lessor’s agent Burns & Partners Lessee Scottish Ambulance Service Suite D, 42 Quay Street, Newport PO30 5BA Size 800 sq ft (74m²) Date of deal 25/11/2016 Rent £8,000 pa, 5-year lease, tenant break and rent review at 2.5 years Lessor’s agent Gully Howard Lessee Newcross Health Open University Building, Baltic Business Quarter, Gateshead NE8 3DF Size 19,543 sq ft (1,816m²) Date of deal 01/12/2016 Price £2m Vendor The Open University Vendor’s agent Lambert Smith Hampton Purchaser Gateshead Council   RETAIL The British Oak, 77 Gooch Street North, Birmingham B5 6QU Size 1,066 sq ft (99m²) Date of deal 28/11/2016 Rent £12,000 pa, 18-month lease Lessor’s agent Pennycuick Collins Lessor RJW Investments Lessee Colmore Tang Construction 35-36 Brentgovel Street, Bury St Edmonds IP33 1EA Size 3,731 sq ft (347m²) Date of deal 11/10/2016 Rent £40,000 pa, 10-year lease, 5 year rent review Lessor Glasswells Lessor’s agent Barker Storey Matthews Lessee A-Plan Insurance 27 Eld Lane, Colchester CO1 1LS Size 2190 sq ft (203m²) Date of deal 15/11/2016 Rent £24,000 pa, 10-year lease, break at year 5, 6 months rent free Lessor’s agent Fenn Wright Lessee Monica Restaurants 20 South Street, Romford RM1 1RA Size 1219 sq ft (113m²) Date of deal 15/09/2016 Rent £30,000 pa, 10-year lease, tenant-only break at year 5, 1 month rent free Lessor’s agent Andrew Caplin Commercial Lessee Vapemate INDUSTRIAL Unit 4, Twenty-Seven Industrial Estate, Epsom Court, Leeds LS27 0LL Size 8,730 sq ft (811m²) Date of deal 03/12/2016 Rent £48,000 pa, 10-year lease, 5 year rent review Lessor South Parade Developments Lessor’s agents Carter Towler, Dacres Commercial and Robert Austin & Co Lessee All Rounder Cricketer Unit 17, Ashburton Park, Wheel Forge Way, Trafford Park, Manchester M17 1EH Size 8,559 sq ft (795m²) Date of deal 05/12/2016 Rent £27,000 pa, 5 year lease Lessor MG Commercial Lessor’s agent Colliers International Lessee M&S Trading Manchester Unit 2, Haydock Industrial Estate, Marlborough Way, Saint Helens WA11 9FT Size 27,182 sq ft (2,525m²) Date of deal 11/11/2016 Rent £156,297 pa, 10 year lease, 5 year rent review, 5 year break, 6 months rent free Lessor Halo Investments Lessor’s agent B8 Real Estate Lessee’s agent FHP Lessee Falcon Panel Products   LEISURE 31-33 Long Row, Nottingham NG1 2DR Size 2,541 sq ft (236m²) Date of deal 15/11/2016 Rent £170,000 pa, 20-year lease, 5 year rent reviews, 6 months rent free Lessor Tempophase Lessor’s agent FHP Lessee’s agent MMX Retail Lessee MOD Pizza Unit 9, Omni Centre, Leith Walk, Edinburgh EH1 3BN Size 1,518 sq ft (141m²) Date of deal 15/11/2016 Rent £50,000 pa, 10-year lease, 5 year rent review, 3 months rent free Lessor Aviva Investors Property Trust Lessor’s agents Ryden and Savills Lessee Coffee Republic To submit your deals please e-mail deals@egi.co.uk or tweet @egideals