Capita Symonds Commercial Real Estate Services

Real estate advice and services from Capita Symonds

Introduction 1

1. Asset Management 2

2. Building Consultancy 3

3. Corporate Services 4

4.1. Investment Sales 5

4.2. Investment Acquisition 6

5. Lease Advisory 7

6. Office & Industrial Agency 8

7. Property Management 9

8. Rating 10

9. Receivership & Recovery 11

10. Retail 12

11. Valuation 13

© Capita Symonds 2012. All rights reserved. Real Estate

We are specialists in commercial property valuation, acquisition, sales, asset

management, development consultancy and leasing. We are also one of the UK’s

leading property and facilities managers.

A short summary of our services follows. If you’d like to know more or you’d like a

view on your real estate issues please call or email me or my colleagues listed.

We look forward to working with you and developing a valuable and trusting

relationship in the future.

Alan Dornford Director – Markets

Introduction

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During the ownership lifecycle we work with clients to enhance the value of their assets.

Core services – Strategic portfolio advice: performance monitor, weightings, buy/sell

– Occupational lease re-gearing, rent reviews, lease renewals

– Superior interest restructuring: strategy and impact

– Development review: alternative use appraisal

– Market monitor: occupational and investment market monitor and forecasting.

1. Asset Management

The Corporation of

Trinity House

The Court House, Harper Road

20,000 sq ft Redevelopment

Citibank

34 Dover Street, London, W1

22,000 sq ft

Ongoing asset management,

leasing and strategic advice

Invesco11 & 12 Old Jewry, London, EC2

65,000 sq ft

Ongoing asset management

O&H

Alexandra Business Park, Sunderland

96 acres, 600,000 sq ft

Office and Industrial Park

Ongoing asset management and strategic advice

Axa REIM EquinoxMilton Keynes

50,000 sq ft

Lease regear

AXA CISCastlewood House, London, WC1

85,000 sq ft

Ongoing asset management

Alan Dornford Director

t +44 (0)20 7544 2211 m +44 (0)7774 490745 [email protected]

mailto:[email protected]


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2. Building Consultancy

RBSCondition surveys of 130 properties inspected and reported on in 90 days.

Greenwhich Hospital EstateProduced a 10yr preventative maintenance programme for a World Heritage site.

£5m

BupaDesign project management and move management for their Staines new headquarters.

£1.2m

Standard Life Investment Ltd Stone cleaning and repairs to a landmark office and retail building.

£350,000

Henderson Four Pools Retail Park, EveshamProject management of 20,000 sq ft new retail unit pre let to Pet’s at Home.

£1.2m

Waterhouse Square London EC1Negotiated a terminal dilapidations settlement on behalf of the tenant.

£3.7m

Bob Cooke Director


Robert Bradley Director


Core services – Building surveys

– Design and space planning

– Project management

– Repairs and refurbishment

– Planned maintenance programmes

– Dilapidations advice

– Insurance reinstatement valuations

– Construction monitoring.

Our team, one of the largest in the UK, looks after the physical life cycle of a building from acquisition to disposal, managing all the practical aspects of asset management in between.




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Core services – Portfolio strategy

– Workspace analysis

– Procurement of new space

– Disposal of surplus

– Asset management.

3. Corporate Services

ITV – Manchester

Headquarter site strategy

Size: 24 acres

Bupa – UK

Full account management

Size: 90 units

Speedy Hire – UK Wide

Sale and leaseback

Size: 400,000 sq ft in 68 units

Pitney Bowes – Europe

Full asset management

Size: 2.0m sq ft

Sue Ryder – UK Nationwide

Full Account Management

80 Store Acquisition Programme

Size 400 units

National Grid

Managing all lettings, asset management

500 brownfield sites nationwide

Jonathan King Director




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Core services – Pricing and sales strategy

– Ready-for-sale due diligence including co ordination of input from other third party advisors

– Marketing materials/sales pack

– Marketing and co ordination of interest development with principals/advisors

– Negotiation strategy, bid formulation and execution of sale.

4.1. Investment Sales

Scottish Widows Investment Partnership Meadows Business Park

Camberley

Business Park Disposal

£23.5m

GE Real EstateRichmond Riverside

Richmond, London,

Office Campus Sale

£45.0m

CURO Property Funds

The Rotunda,

Kingston-upon-Thames

Leisure Scheme Disposal

£50.7m

Royal Mail Group131 Kings Road, Chelsea

Development Site Disposal

£37.0m

Henderson Global InvestorsOffice Portfolio Sale

£46.0m

Scottish Widows Investment Partnership

St Peters Way Retail Park Northampton

Retail Park Sale

£18.3m

Rob Cass Director


James Keys Director



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Core services – Sourcing opportunities

– Valuation and negotiation strategy

– Co-ordination of comprehensive due diligence pre-purchase: legal, tax, planning, surveys

– Formal purchase report.

Private InvestorThe Governor’s House,

London, EC2

City Office Acquisition

£86.0m

Legal and GeneralBishop’s Cleeve and Lydney Tesco Supermarkets

£31.0m

Moorfields/Segro JV

UK Wide Industrial Portfolio

Acquisition

£310m+

Aviva InvestorsDirect Line House, Quay St, Manchester

£23.64m

Cordea Savills

Crystal Court,

Briset Street

London, EC1

City Office Acquisition

£23.0m

Hildane Properties28 Dorset Square,

London, W1

West End Office Acquisition

£17.0m

4.2. Investment Acquisition

Rob Cass Director


James Keys Director



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4.2. Investment Acquisition

Some regard rent reviews and lease renewals simply as a battle between landlord and tenant. We see things differently. Whether acting for an investor or occupier, the terms of any lease impact on the bottom line.

Lease regear acting for the tenant of 110,000 sq ft distribution facility, achieving c.£1m savings in rent.

Rent: £700,000 pa

Prime West End retail unit. Rent review acting for tenant, achieving savings amounting to £450k over the remaining term of the lease.

Rent: £580,000 pa

Expert Witness giving evidence in Lands Tribunal on rental valuation of the most famous department store in the world as at 1 April 2005 for rating purposes.

Rent: £18m pa

30,000 sq ft London office building. Rent review acting for tenant taken to arbitration, saving over £300k pa against landlord’s initial proposal.

Rent: £1.2m

Current Lease renewal for RBS of 115,000 sq ft at 199 Bishopsgate, Broadgate, London EC2 against British Land. Seeking short term flexible extension with repair liability concessions.

Rent: £5.18m pa

Rent review for Nat West on 55,000 sq ft at 15 Bishopsgate, London, EC2, agreed nil increase after protracted negotiations.

Rent: £1.04m pa

Paget Lloyd Director


Paul Lewis Director


Core services – Rent reviews

– Lease renewals

– Asset initiatives

– Regearing leases.

5. Lease Advisory




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Core services – Market research and analysis

– Marketing strategy and implementation

– Pre-disposal due diligence

– Transaction management

6. Office & Industrial Agency

Ganton House

London, W1

Acquisition

11,000 sq ft

133 Houndsditch

London, EC3

Disposal

140,000 sq ft

20 Triton Street,

London, NW1

Acquisition

20,000 sq ft

Sovereign Gate Richmond

Sale

22,600 sq ft

Lakeside House,

Bracknell

Acquisition

110,000 sq ft

Sovereign Court Hounslow

Disposal

26,000 sq ft

Andrew Smith Director




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We are one of the top three property managing agents in the UK. We have more than 100m sq ft of assets under management for investors and corporate occupiers.

Core services include – Rent and service charge collection

– Facilities management

– Planned maintenance and building improvements

– Tenant relocation

– Lease event management.

7. Property Management

royal london asset management

Andrew Holden Director

t +44 (0)20 7544 2227 m +44 (0) 7887 825695 [email protected]


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Core services – Survey, valuation advice and appeals

– Rate refund calculations and recovery

– Identifying empty rate relief opportunities

– Rates budgeting forecasts.

8. Rating

Sky – West London offices

Size: 134,000 sq ft

Saving: £1.5 million

Hermes – West End Retail

Size: 6,200 sq ft

Saving: £100,000

Royal Mail – Heathrow

Size: 235,000 sq ft

Saving: £500,000

Blackstone – Hayes

Size: 270,000 sq ft

Saving: £2.0m

ABN Amro/RBS – City

Size: 250,000 sq ft

Saving: £2.9m

Shearman & Sterling – City

Saving: £1.1m

Andrew Warde Director




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Fred Meehan Associate


We can relieve the mortgagee of the risks of recovering a property debt. We provide advice on strategy, asset management and alternative uses to achieve a financial settlement that satisfies the lending requirements.

9. Receivership & Recovery

Feltham town centre

– Identified and assessed alternative potential exit routes – Agreed JV with developer – Obtained planning consent for comprehensive

redevelopment – Achieved sale of a complex asset for £11m plus profit

share after 5-year workout

Colchester and Doncaster B&Qs

– Sold an unpopular product in a falling market, with little to no available finance

– Achieved a successful sale when the investment market and lenders were anti retail warehousing

Magnet portfolio

– Capita Symonds established management team to collect rents and deal with Health and Safety issues across the entire portfolio

– Appraised alternatives for optimising the value of the property to enable recovery of loan working with architects, quantity surveyors and planners

Core services – Assimilate the facts and confirm the validity

of the appointment

– Value/appraise and report on market conditions and issues

– Qualify the security

– Manage, collect rent and asset manage

– Agree strategy to maximise the value of the asset

– Regularly review strategy.

[email protected]


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Core services – Store acquisition programmes, UK & Ireland

– Market research and analysis

– Consultancy and strategic advice

– Disposals.

10. Retail

Hollister

5-year acquisition programme

31 stores so far.

Sue Ryder

Over 50 new shops acquired since January 2011.

Sainsbury’s

Disposal -sublet of former supermarket in Finchley Road, London

Gilly Hicks

UK acquisition programme

6 stores to date.

AXA

Shop unit letting in Chiswick High Street.

Abercrombie & Fitch

Consultancy advice on flagship lease.

Ray Dowse Director




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Core services We value all types of property from prime city centre office buildings and shopping centres to car parks and open parkland. Our clients range from major public and private sector organisations to private individuals.

Our valuation methods cover:

– Market value

– Existing use

– Alternative use

– Depreciated replacement cost.

11. Valuation

Tunbridge Wells Borough Council

Annual valuation of a portfolio consisting of 200 Council owned properties

£50.0m

Prudential

Quarterly valuation of 110 prime retail properties

£500.0m

Anglo Irish Bank

Elizabeth House, York Road, Waterloo, London

£550.0m

VION Food Group Ltd

Portfolio of 39 food production facilities and 152 agricultural properties

£250.0m

Greenwich Hospital

Portfolio of 160 properties located in Greenwich London

£70.0m

Deutsche Bank

Lancer Square, Kensington Church Street, London

£35.0m

Paul Watling Director



capitasymonds.com/realestate

Head office Capita Symonds Ltd 1 Procter Street London WC1V 6DW +44 (0)20 7492 0200

Elder House, Multrees WalkEdinburgh EH1 3DX +44 (0)131 460 1200

The Observatory8th Floor, Chapel WalksManchester M2 1HL+44 (0)161 819 4200

10 King William Street London EC4N 7TW +44 (0)20 7544 2000

125 Shaftesbury AveLondon WC2H 8AD+44 (0)20 7544 2000

Capita Symonds Commercial Real Estate Services

Real Estate

Transcript of Capita Symonds Commercial Real Estate Services