HOME ABOUT US PROPERTY PRIVATE EQUITY NEWS CAREERS CONTACT US COMMERCIAL PROPERTY DEVELOPMENTS RESIDENTIAL CASE STUDIES RECENT WORK We achieve excellent results by micro managing every aspect of an investment from acquisition, through asset management and ultimately, the sales process. Here are some recent examples of the work we do. MILBURN HOUSE, DEAN STREET NEWCASTLE UPON TYNE DATE ACQUIRED: JUNE 2013 ACQUISITION PRICE: £6.38M SYNOPSIS Package of four period buildings in Newcastle city centre. SUMMARY BUSINESS PLAN To dispose of Cathedral Buildings and 17-21 Dean Street, relocate occupying commercial tenant from first floor of St Nicholas Chambers to vacant ground floor space to facilitate conversion of upper floors to residential, complete sales of residential apartments and then dispose of remaining ground floor commercial thereby focussing on Milburn House as a longer term hold and invest in the common areas/upgrading and repair of building to grow rental income. ACTION TO DATE Milburn House - 106,900 sq. ft. net lettable office/leisure Gross income on acquisition - £665,350 Net income on acquisition - £496,405 Current Gross income - £707,000 Current Net income - £536,500 Business lounge hub area created in low value space to encourage lettings - £100k. Further sum of £50k to be invested in upgrading main entrance corridors. Cathedral Buildings - 24,454 sq. ft. net lettable office/leisure/retail Sold - £1.47M January 2014 17 - 21 Dean Street - 5,658 sq. ft. residential/retail Series of sales ending December 2014 - combined value - £947,450 St Nicholas Chambers - 15,377 sq. ft. office/retail/leisure Gross income on acquisition - £144,887 Net income on acquisition - £77,315 Current Gross income - £138,000 Current Net income - £121,200 Sole occupying tenant on first floor relocated to vacant ground floor suite on new lease leaving all upper floors clear for residential conversion. Planning permission secured for 16 residential apartments. Construction commenced April and scheduled for completion [ ]. 12 apartments currently reserved off plan at combined sales value of £1,235,050. Estimated total sales value £1,741,950. 9 PORTLAND STREET MANCHESTER DATE ACQUIRED: DECEMBER 2013 ACQUISITION PRICE: £3.705M SYNOPSIS Ground and six upper floor modern offices behind listed retained stone façade extending to 54,941 sq. ft. acquired from receivership. Building entirely vacant due to structural issue with main core staircase necessitating complete replacement of staircase together with other principally M & E issues as a result of shortcomings by developer on refurbishment scheme. SUMMARY BUSINESS PLAN Undertake required works package and market space aggressively in terms of competitive rental structure due to low capital value entry price. ACTION TO DATE Works package of £1.061M completed October 2014. 6th floor (4,377 sq. ft.) let to SF Recruitment Limited @ £13.50 for 5 years subject to tenant break at Yr. 3 wef November 2014. Ground, 1st & part 2nd, 3rd and part 4th floor in legal hands @ £13.50 per sq ft. Fifth floor in legals at £15 per sq. ft. Current income £744,584 per annum on assumption lettings in hand complete. Balance of 8,112 sq. ft. therefore remains available for let @ £15/sq. ft. Fully occupied income will be £866,264 per annum. NEWSTEAD COURT, ANNESLEY NOTTINGHAMSHIRE CGU HOUSE LEEDS CENTURY WAY LEEDS CHANCELLOR COURT LEEDS COPYRIGHT © 2021 LONDON & SCOTTISH INVESTMENTS LTD LONDON & SCOTTISH INVESTMENTS LTD, VENLAW, 349 BATH STREET, GLASGOW, G2 4AA TELEPHONE: 0141 248 4155 FAX: 0141 243 2056 EMAIL: INFO@LONDONANDSCOTTISHINVESTMENTS.COM PRIVACY NOTICE WEBSITE BY ATALANTA Cookies & Privacy CLOSE We use non-essential cookies to improve our site and give you the best browsing experience. By accepting, you are agreeing to receive these cookies. Learn more Accept Settings