Private overseas client portfolio
Acting on behalf of private overseas clients Cyril
Leonard were appointed to invest funds into a commercial property.
The client advised Cyril Leonard's Investment
Department of their requirements including:-
- Length of income
- Return Requirement
Upon this Cyril Leonard actively sourced opportunities matching these requirements and working with the client secured two properties, both in an off-market situation. The first acquisition was of a R&D Facility in Oxford single let for 14 years with rent reviews five yearly linked to RPI, thus providing the client with growth through the term. The second acquisition was of a Headquarters manufacturing facility close to Leeds which was newly constructed in 2012 and is single let to a global company for a further 13.5 years and again the rent was subject to fixed increases.
Cyril Leonard's Project & Building Consultancy team were appointed
to undertake technical due diligence prior to the purchase of both buildings which
provided different challenges given the Oxford facility had been sub-divided
into laboratory space and the Leeds facility required significant due diligence
in relation to the construction.
Cyril Leonard's Property & Asset Management department have been
appointed to manage the properties on behalf of the client which includes rent
and insurance collection as well as act as a liaison with the tenants.
In this example by providing a full-service
offering to our overseas clients, they have a single point of contact in Cyril
Leonard for their property portfolio and a trusted relationship has been
developed as a consequence.