Boultbee Brooks Real Estate sells Rivington House, EC2, for £15.22m

23 March 2015 (London and Hereford) – Boultbee Brooks Real Estate, the UK-based real estate investor and property developer, has sold Rivington House, EC2, to The Charities Property Fund for a total consideration of £15.22m.

The property, located on Great Eastern Street, London EC2, is currently let in its entirety to LK Bennett Ltd on a 15-year lease and the sale price reflects a net yield of 4.75% after rent free and purchase costs.

Rivington House is 17,743 sq ft, eight storey office block located in a prominent location at the gateway to Shoreditch. The building, which was formally a garment factory, is an impressive refurbishment of an existing Victorian yellow brick structure which has been extended to create two new spectacular upper levels with external terraces. The property was taken back to the bare Victorian shell prior to being redeveloped to the highest standard including exposed energy efficient services.

Roger James, Boultbee Brooks Real Estate’s Development Director, said: “We are delighted to sell a second completed development in Shoreditch to The Charities Property Fund. Rivington House is a superb property in a much sought-after location, and we expect it to deliver stellar returns for The Charities Property Fund over the coming years.”

Aurum Real Estate acted on behalf of Boultbee Brooks Real Estate. Somerford Investment acted for The Charities Property Fund.

For more information contact:
Christine Elsasser
Boultbee Brooks Real Estate +44(0) 20 7349 8454 Email: christine@bbre.co.uk

Oliver Hughes / Oliver Sherwood
Brunswick Group +44(0) 20 7404 5959 Email: boultbee@brunswickgroup.com

CBRE Global Investors Enters Into Joint Venture with Boultbee Brooks Real Estate

LONDON, 17 March 2015 – CBRE Global Investors, on behalf of a client, has entered into a joint venture (JV) with Boultbee Brooks Real Estate to fully refurbish and re-let Kings House, 33 Kings Road, Reading.

Boultbee Brooks Real Estate bought the seven storey office building in March 2014 for £8.6 million and CBRE Global Investors has committed over £20 million to refurbish the asset.
Works have already begun on a comprehensive improvement plan. The project includes reconfiguring the reception and office floors moving the lift cores to the exterior of the building and re-letting the remodelled accommodation. The completed building will extend to 92,238 sq ft net internal area providing an additional 23,000 sq ft over the existing.
The building is located on Kings Road which is within Reading’s Central Business District and close to the Oracle Shopping Centre. It is a short walk from the City Centre main line terminal.
Ian Wilson, Director, CBRE Global Investors commented: “We can see the potential this building has following the extensive refurbishment we have planned and have joined forces with an experienced developer to see this project through.

“Reading has an improving office market and an undersupply of prime office space. With the development of Kings House, we hope we will be meeting the demand for Grade A accommodation in a prime location with this offer.”

Roger James, Development Director of Boultbee Brooks Real Estate commented: “We are delighted to be undertaking such an exciting project with CBRE Global Investors and their client are confident the product we will be delivering will be very well received in the market”

2-4 Noel Street Reopens after Boultbee Brooks Real Estate Refurbishment

12 March 2015 (Hereford and London) – Boultbee Brooks Real Estate (BBRE) the UK-based real estate investor and property developer, has reopened 2-4 Noel Street, W1, in the heart of London’s lively Soho district, following the completion of its refurbishment. The works, which included a reconfiguration of the core and rear light wells and the addition of a rear extension, have transformed the building into high quality offices on the 3 upper floors and a retail unit on the ground and basement floors whilst retaining the property’s original character from the outside.

BBRE is itself occupying the newly refurbished office space on the second floor to house the company’s headquarters. Other tenants include Catley Lakeman on the first floor and Aurum Real Estate on the third floor.

BBRE Managing Director, Clive Boultbee-Brooks said:
“A huge amount of work has gone into the design and construction of the refurbished property, led by GPAD who were the architect for the project. We are delighted with the final result, and as one of the property’s tenants, look forward to working in and enjoying the space as we continue to grow our business.”

For more information contact:

Christine Elsasser
Boultbee Brooks Real Estate +44(0) 20 7349 8454 Email: christine@bbre.co.uk

Oliver Hughes / Oliver Sherwood
Brunswick Group +44(0) 20 7404 5959 Email: boultbee@brunswickgroup.com

Boultbee Brook Real Estate acquires Latimer House, Amersham

11 March 2015 (London and Hereford) – Boultbee Brooks Real Estate (BBRE), the UK-based property investor and property developer, is pleased to announce the acquisition of Latimer House, Anglo Office Park, Amersham HP7 9JQ for a total consideration of £5.2M.

The property, located less than a mile to the east of Amersham town centre, provides direct access to Junction 18 of the M25 and junctions 1 and 2 of the M40, and is a short drive from Amersham Rail station and Chalfont & Latimer underground station.

Latimer House is comprised of a modern building arranged over ground and first floors, in two wings, and provides flexible accommodation, allowing a floor to be spilt and part let.

The acquisition of Latimer House is in line with BBRE’s strategy of investing in prime commercial property in sought-after locations and which offer attractive financial returns. Amersham offers excellent connectivity to and many of the same benefits of Central London, but without the price premium.

BBRE Managing Director, Clive Boultbee-Brooks said:

“Amersham and the surrounding area is in high-demand, with its excellent road links and accessibility to Central London on the Chiltern Railway and Metropolitan underground lines. It provides a cost-effective alternative to more central locations, yet with many of the same benefits. We are confident that demand will continue to grow and are pleased to have secured such an attractive property.”

Aurum Real Estate advised BBRE.

For more information contact:
Christine Elsasser
Boultbee-Brooks Real Estate
+44(0) 20 73498454
Email: Christine@bbre.co.uk

Oliver Hughes
Brunswick Group