Riverside Capital is pleased to announce that the 1st floor at Sherborne House, 119-121 Cannon Street, has been let. The new letting is the first lease to be signed following the purchase of the 57,777 sq. ft. asset by Riverside Capital investors in June this year. Kellan Group PLC, a market leading recruitment company with six offices in London and other major UK cities, has taken a 10 year lease to occupy the 8,388 sq. ft. space. The AIM Listed company operates three recruitment brands: RK, Quatica and Berkeley Scott servicing the Information Technology, finance and hospitality sectors respectively, and provides a valuable addition to the tenant mix at Sherborne. Riverside Capital continues to roll out its asset management plan for the building to improve the 5th and 6th floors and let remaining space to strong covenants. Interested in Riverside Capital’s investment opportunities? Register as a client, or contact us to find out more.
Riverside Capital’s most recent property exit, a portfolio of 33 trade counter units let to Travis Perkins plc, has achieved a 1.5x equity return to investors over 4.5 years. The portfolio was sold to Cordatus for £45.35m, reflecting a net initial yield of 5.35%. Riverside Capital jointly secured the opportunity for its investors in a JV in 2014. The investment opportunity was to capitalise from the income growth provided by a highly secure, low-risk tenant and 5 yearly rent reviews. After selling two assets within the portfolio separately at a premium last year, the remaining portfolio has now been sold after capturing income and value growth. Sasha Stupar, Director at Riverside Capital said: “This sale concludes another good investment for our investor base. The opportunity was able to deliver on the ongoing appetite for income, paying a dividend throughout the hold period and returns on exit, providing a strong overall return.” Interested in Riverside Capital’s investment opportunities? Register as a client, or contact us to find out more.
Riverside Capital has this month completed on the sale of a fitness centre in Derby for £9.85 million. The sale represents a net initial yield of 5.14%. The property, let to Nuffield Health on a 25 year lease, was sold to Knight Frank Investment Management. View More
Riverside Capital has completed its purchase of Sherborne House, a 57,777 sq. ft prime, mixed-use building on Cannon Street, London for £47.15 million. The building, which lies adjacent to what will be one of two new Bank Station entrances, comprises six floors of offices together with three retail units on the ground floor and basement. Retail tenants are Holland and Barrett, L’Express and Fuller Smith & Turner. View More
Riverside Capital is pleased to confirm that Old Street Works is now fully let, after achieving two new lettings over the past month. 1,848 sq. ft. on the first floor of 201 City Road has been let to SuperCarers (Super Carers Ltd) for £55 per square foot. The lease length is 4.5 years. SuperCarers is tech-led company, providing a support service to families seeking care professionals in their area, and is the leading online care platform. View More
Riverside Capital purchase £47.15 million prime, mixed-use building in the heart of London’s City Core
Riverside Capital has exchanged contracts to purchase Sherborne House, a 57,777 sq. ft prime mixed-use building on Cannon Street, London for £47.15 million. The building, which lies adjacent to what will be one of two new Bank Station entrances, comprises six floors of partly refurbished offices together with three retail units on the ground floor and basement. Retail tenants are Holland and Barrett, L’Express and Fuller Smith & Turner. View More
Riverside Capital has completed a new letting at Old Street Works, 197-205 City Road, the third letting since acquiring completing on the property in June last year. Pindrop Limited have taken a 5 year lease over 1,820 sq. ft. on the 2nd floor of 201 City Road. View More
Riverside Capital has sold its Travelodge hotel in Torquay for £8.5m, returning almost 1.5x equity to investors. The sale of the 90-bedroom hotel comes six months ahead of schedule, achieving an IRR of 17.29% over a 31 month hold period. View More
Riverside Capital has completed its latest capital raise this February. £4.5 million has been raised from private investors to facilitate the forward funding of the Cambridge Nutritional Sciences R&D property which has a target ERV of £9.7 million. Construction of the property will now commence with a target completion date of early 2019. Interested in Riverside Capital’s investment opportunities? Register as a client, or contact us to find out more.
Riverside Capital is pleased to confirm a further letting at Old Street Works. 1,541 sq. ft. on the second floor of 205 City Road have been let to Ocean Branding at a rent of £55 psf. View More