Riverside Capital has achieved planning consent to improve and extend Sherborne House, 119-121 Cannon Street.
This permission will allow us to gain an additional 4,167 sq. ft. of lettable floor area at 5th and 6th levels as well as new roof terraces to each of these floors.
In addition, the planning consent will enable us to improve the reception area, and provide communal cycle storage and shower facilities to the building.
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Riverside Capital has moved offices to occupy a new corner of Mayfair.
One Heddon Street, a brand new building provided by the Crown Estate, is the company's new home.
Riverside Capital is enjoying its new location in the heart of the West End and is happy to support sustainability and healthy places and habitats, in occupying one of the first WELL approved buildings in the area.
We look forward to welcoming friends of Riverside Capital to our new location, details of which can be found here.
Riverside Capital has completed another purchase for the Student Housing Portfolio in the second of its target cities, Newcastle.
3-6 Portland Terrace - comprising eight, five and six bedroom apartments spanning a continuous row of four properties - was purchased by Riverside Capital investors for £2,925,000 million, or £66,477 a room.
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Riverside Capital has let a retail unit in Leeds, part of its 2016 forward funding project comprising three retail properties, to One Below Limited.
The unit, previously occupied by Poundworld Retail Limited, has been let for a ten year term with upward only rent reviews.
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Riverside Capital has achieved planning consent from Hackney Council to extend and improve the office areas on the fourth floor of Old Street Works, 197-205 City Road.
The permission grants us the ability to add a potential 1,000 sq. ft. extra to the space, which would add significant value to the property.
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Riverside Capital has completed on nine student houses in Liverpool; the first properties in its Student Housing Portfolio.
The houses, purchased for £3,330,600, are all currently let to students and sit within the popular Wavertree area.
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Riverside Capital has exchanged contracts to purchase the first properties in its Student Housing Portfolio: nine student houses in Liverpool.
The properties, all currently let to students, sit within the popular Wavertree area.
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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.
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