Tushingham Moore | Chartered Surveyors

Investment Purchase and Asset Management/Value Generation

• Open A1 retail warehouse park development extending to 92,929 sq ft, adjoining a Tesco foodstore and let to major national retailers including Next; Halfords; Argos; and Pets at Home.
• "Off market" forward purchase of the scheme for approximately £16m.
• Final letting concluded at £17.25 psf, establishing a significant reversion over the passing rents of £13-15 psf.
• Client: Threadneedle Property Investments.

Compulsory Purchase Consultancy and Investment Acquisition

• Two 100% prime high street shops let to Top Shop/Top Man and HMV in Liverpool's main retail pitch.
• CPO advice with regard to acquiring the properties as part of the site assembly for Liverpool One.
• Investment purchase for £43m, representing one of the largest high street investment deals outside of Central London.
• Client: Grosvenor.

Development Consultancy and Investment Forward Funding

• Delivery of new Sainsbury's supermarket to anchor a district shopping centre development.
• Development consultancy to deliver an occupational lease and sale structure which maximised the value of the investment created for the developer.
• Forward sale of the foodstore investment for £23.45m, representing a NIY of 3.82%.
• Client: ASK Developments.

Asset Management; Value Generation and Investment Appraisal

• Prime high street shop investment in Chester City Centre.
• 3 year residue of a 15 year lease restructured with WH Smith by tmi to provide a new unbroken 15 year term.
• Resultant investment sold for £10.4m, representing an initial yield of 4.9% - the first post Lehman sub 5% high street yield.
• Client: La Salle Investment Management.

Investment Purchase; Asset Management and Investment Disposals

• Portfolio acquisition of 77 foodstore investments let to Kwik Save for £85m.
• Break-up of portfolio following expected collapse of Kwik Save business to create balanced investment portfolio and trading supermarket stock.
• VP disposals completed to Tesco; Lidl; Booths; Netto; Farm Foods; KFC; Heron Foods and Home Bargains.
• Lettings completed to Wilkinson; Tesco; Aldi; Heron Foods; Ladbrokes; B&M Bargains; Betfred and JD Wetherspoons
• Approximately £90m of investment & VP sales concluded to date.
• Client: Private Investor.

Investment Purchase; Asset Management and Value Generation

• Investment purchase of spa town shopping centre for £19.5m through a competitive bidding situation.
• Recommended for purchase because of strong retailer demand and retailer turnover/profitability being disproportionately high.
• Delivery of a significant Next store extension and two new infill units to set a new rental tone for the centre.
• Rents moved from £42 Zone A to £60 Zone A.
• Client: Threadneedle Property Investments.

Asset Management; Value Generation and Investment Disposal

• Substantial (211,000 sq ft in 85 units) secondary shopping centre investment in Winsford, Cheshire.
• Pro-active asset management initiative delivered new national retailer pre-lets for a major extension and moved rentals from £30 to £45 ZA.
• Investment sold in December 2005 for £49m, representing an initial yield of 5.53%.
• Client: Modus.