Addington Capital, the investment and asset management company, in partnership with the shopping centre owner EPISO, a fund advised by Tristan Capital Partners announces the opening TODAY of the Primark store at its Charter Walk Shopping Centre in Burnley. Primark has taken 32,000 sq ft of retail space and the store will create 110 jobs in the centre.

Alex Wagstaff, Partner at Addington Capital commented

“It’s great to see the new store now open which will prove hugely popular to Burnley’s loyal customers. This completes an initiative that started over two years ago that involved the relocation of Wilko from this unit to the former 99p stores shop within the scheme, creating the opportunity to deliver the new Primark.”

“The shopping centre is trading very well and we hope to build on this success by submitting a planning application shortly to reconfigure a circa 15,000 sq ft retail block in the Market Square to deliver further lettings to meet demand from strong national retailers.

Primark joins other national retailers trading within Charter Walk such as River Island, Wilko, JD Sports, Boots, The Entertainer and Superdrug. The centre is now over 95% let.

Posted in News on 18 May, 2018

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Addington Capital, in partnership with EPISO3, an opportunity fund advised by Tristan Capital Partners, has sold the Bradbury Works, Braintree to Locksbridge Developments (Braintree) Limited for £6.195 Million.

The freehold industrial development site extends to just under 9 acres and has planning permission for 196,000 sq ft of new B2/B8 accommodation.

Avison Young advised Addington.

Steven Vaughan of Addington commented “ We are pleased with the sale. We were marketing the site at offers of over £6 million, and the price achieved is evidence of the continuing strength of the industrial & warehousing market. There is strong demand from local occupiers but little supply of new quality industrial units in the area giving good prospects for rental & capital value growth."

The site was acquired by Addington and EPIS03 in 2014, as part of the Tree portfolio.

Posted in News on 04 May, 2018

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The property comprises high quality retail and leisure let to tenants including JoJo Maman Bebe, Patisserie Valerie, Starbucks and Cote. The upper floor offices are well let to government and local council agencies, including Shropshire CommunityHealth NHS Trust and the Ministry of Defense.

Addington was advised by KLM Retail.

Alex Wagstaff, Partner at Addington Capital commented, ‘During our period of ownership we have improved the tenant mix with the letting to Cote and re-geared a number of leases to provide a platform for growth for the next owner. The retail market continues to provide active management opportunities and we will continue to target the sector.’

Rob Dales, Partner at KLM Retail commented further: ‘Prime multi-let properties in right-sized affluent towns continue to experience strong investor demand due to more robust market conditions.’

Posted in News on 30 Apr, 2018

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Addington Capital, the property investment and asset management company has now completed the development of 55 Queen Street, Sheffield S1, in Sheffield City Centre into a residential apartment block and is now marketing the units.

Addington acquired the 17,800 sq ft old Victorian office building in January 2016 as part of a larger portfolio and has since gained planning and developed the building into 24 modern flats (12 x 1 bed and 12 x 2 beds), with 7 parking spaces in a gated development. The property is in a conservation area and Addington has maintained the period building with original features. Each apartment has large double glazed sash windows, granite worktops and high quality integrated appliances, dedicated fibre broadband connections and low service charges. The apartments range in size from 386 sq ft to 743 sq ft.

Commenting on the scheme, Matthew Allen, Principal of Addington Capital said, " We have developed to a high finish and believe these apartments by virtue of quality and central city location will prove highly attractive to Sheffield's young professional community. There is still a demand/supply imbalance in the Sheffield residential market."

Nicola Spencer of Spencer’s Estate Agents is marketing the scheme for Addington.

Posted in News on 13 Feb, 2018

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Addington Capital and Europa Capital have completed the acquisition of One Lampton Road in Hounslow from clients of LaSalle Investment Management for over £20 million. The investment is the second acquisition for the London Affordable Residential Platform, which will focus on the creation and conversion of residential accommodation in undersupplied London markets.

The 121,812 sq ft (11,316 sq m) mixed use property provides 72,571 sq ft (6,742 sq m) of office space and 49,241 sq ft (4,574 sq m) of retail space. One Lampton Road is occupied by tenants including TK Maxx, Job Centre and Sri Lankan Airlines, and has permitted development rights for conversion into 115 residential units. The property is located in the heart of the town and within 200 m of Hounslow Central underground station.

Hugo Black, Partner at Europa Capital said, “We are pleased to have made our second acquisition for the London Affordable Residential platform with Addington Capital. This is our 7th joint venture with Addington Capital and supports our continued drive to address the shortfall of housing in the UK. Since 2010, we have also acquired land with potential to deliver up to 8,600 residential units across 12 separate acquisitions.”
Martin Roberts, Principal of Addington Capital said, "We are continually looking for opportunities where we can put our asset management and development expertise into play and this acquisition will allow us to do both. One Lampton Road will complement Addington's existing PRS portfolio, which we plan to expand further going forward. "

Richard Merryweather, at Savills who advised the purchasers, commented: “We are delighted to have represented Addington and Europa on this acquisition. There are significant asset management opportunities and growth potential in this busy, West London location.’

Gerald Eve acted for the vendor, who were clients of LaSalle Investment Management.

Posted in News on 09 Feb, 2018

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