April 20, 2017
Palmer Capital has had an excellent start to the year with the recent acquisition of a portfolio of three assets for £18.1m including two units leased to Booker and one leased to The Range, reflecting a blended initial yield of approx. 6.5%. On the value add / opportunistic side, Palmer Capital has also recently acquired a portfolio of office and industrial buildings in the centre of Salisbury for £12.5m, which totalled 190,000 sq. ft.
Palmer Capital have approx. £500m to deploy into UK Real Estate. Palmer Capital is currently looking to acquire assets which are approx. £2m – £200m and play to the following three investment themes:
- LONG DATED INCOME: Buying assets with >10 years of income but ability to add value through management initiatives.
- URBAN ASSET CREATION: Acquiring UK urban assets that can be redeveloped into new residential (for sale or rent), PRS or office assets.
- PLANNING GAIN: Acquiring primarily brownfield sites in major UK cities, where planning consents can be readily obtained for residential, and then sold.
Top Recent Deals
Income Focussed
Apex Portfolio: Portfolio of three assets: two units leased to Booker and one unit leased to The Range. The blended WAULT across the portfolio was circa 12 years, with strong regear prospects. Acquired for £18.1m, reflecting a blended initial yield of approx. 6.5%.
Value Add / Opportunistic
Office and Industrial Portfolio, Salisbury: Portfolio comprising five office buildings totalling 120,000 sq. ft. and three industrial buildings totalling 70,000 sq. ft. Business plan to promote largest building for retirement housing and sell down the remaining sites in existing use. Acquired for £12.5m.
Residential Planning
Land at Corton, Ayr: 125 acre site on the south eastern outskirts of Ayr, with outline planning consent for 569 residential units. There is the potential to revise the existing planning consent to enhance value. Acquired for £3.5m.
If you have opportunities which fit the above requirements then do get in touch with:
Charles Allen, Acquisitions Director at Palmer Capital charles.allen@palmercapital.co.uk or 0207 409 5500.
Sam Fleming, Associate Director at Palmer Capital Sam.Fleming@palmercapital.co.uk or 0207 409 5500.