investment market dashboard - acrellp.com · investment market dashboard ... (en route) plc wault...
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Q U A R T E R L Y A N D Y E A R E N D S O U T H - E A S T O F F I C E I N V E S T M E N T M A R K E T S N A P S H O T
I N V E S TM E N T V O LU M E S Y T D I N V E S TM E N T V O LU M E S Q 4 I N V E S TO R S E N T I M E N T
£3.34bn £1 .17bn
2017 £1.17bn
£825m2016
£1.39bn2015
£1.215m2014
£1.56bn2013
2017 £3.34bn
£5.22bn2016
£4.27bn2015
£2.88bn2014
£3.07bn2013
7 / 1 0
Q 4 I N V E S TM E N T V O LU M E S V S P R E V I O U S Y E A R S
A N N U A L I N V E S TM E N T V O LU M E S V S P R E V I O U S Y E A R S
Trending: Stronger
Trending: Up Trending: Stable Trending: Stable
5.25%
P R I M E Y I E L D S
J A N U A R Y 2 0 1 8
A C R E C A P I T A L C O M M E N T A R Y
I N V E S T M E N T M A R K E T D A S H B O A R D
O C C U P A T I O N A L M A R K E T S N A P S H O T
• Sustained Q4 investment volumes and number of deals aided by the increased availability and quality of stock, with headline grabbing deals across the SE, as well as in the ‘Big-6’
• No let up in Council buying activity at 30% of market by transaction volumes in Q4 and no evidence this will be curtailed anytime soon
• Multi let offices in Greater London or strong SE towns and long income deals still in high demand
• Non-institutional buyers capitalising upon cautious approach taken by others
• Out-of-town offices continue to represent “real” value
I N V E S TO R D E M A N D C B D V S O U T O F TO W N
K E Y I N V E S T M E N T T R A N S A C T I O N S & K E Y I N V E S T M E N T A V A I L A B I L I T Y
FAR N BOROUG H B US I N E SS PAR K
D A T E T R A N S A C T E D D E C - 1 7
P U R C H A S E P R I C E £ 1 7 4 , 6 0 0 , 0 0 0
N I Y 6 . 7 9 %
C A P V A L ( P S F ) £ 3 1 5
A R E A ( S Q F T ) 5 5 4 , 6 7 7
T E N A N C Y D E T A I L S M U L T I - L E T
W A U L T ( Y E A R S ) 5 . 8
P A S S I N G R E N T £ P A ( £ P S F ) £ 1 2 , 0 7 0 , 7 2 8 ( £ 2 3 . 7 8 )
P U R C H A S E R F R A S E R S
B UXTON COU RT, OXFOR D
D A T E T R A N S A C T E D D E C-17
P U R C H A S E P R I C E £6,625,000
N I Y 5.43%
C A P V A L ( P S F ) £336
A R E A ( S Q F T ) 19,696
T E N A N C Y D E T A I L S UNIVERSIT Y OF OXFORD
W A U L T ( Y E A R S ) 7.9
P A S S I N G R E N T £ P A ( £ P S F ) £383,916 (£19.50)
P U R C H A S E R MARTIN’S PROPERTIES
FOCAL POI NT, LEATH E R H EAD
D A T E T R A N S A C T E D DEC-17
P U R C H A S E P R I C E £8,030,000
N I Y 6.07%
C A P V A L ( P S F ) £344
A R E A ( S Q F T ) 22,505
T E N A N C Y D E T A I L S MULTI-LET
W A U L T ( Y E A R S ) 7.6
P A S S I N G R E N T £ P A ( £ P S F ) £519,964 (£23.10)
P U R C H A S E R MOLE VALLEY COUNCIL
K E Y D E A L S
12 HAM M E RS M ITH G ROVE
D A T E T R A N S A C T E D D E C - 1 7
P U R C H A S E P R I C E C. £170,000,000
N I Y C . 5 .25%
C A P V A L ( P S F ) £994
A R E A ( S Q F T ) 170,985
T E N A N C Y D E T A I L S M U L T I - L E T
W A U L T ( Y E A R S ) 13.0
P A S S I N G R E N T £ P A ( £ P S F ) £9,530,864 (£56.15)
P U R C H A S E R SPELTHORNE BOROUGH COUNCIL
NATS, SOLE NT B US I N E SS PAR K
D A T E T R A N S A C T E D D E C - 1 7
P U R C H A S E P R I C E £82,000,000
N I Y 5.23%
C A P V A L ( P S F ) £314
A R E A ( S Q F T ) 261,049
T E N A N C Y D E T A I L S N AT S (E N R O U T E ) P L C
W A U L T ( Y E A R S ) 13.5
P A S S I N G R E N T £ P A ( £ P S F ) £4,577,977 (£17.54)
P U R C H A S E R M I D D L E E A S T E R NI N V E S T O R
COLUMBIA, BRACKNELL
D A T E T R A N S A C T E D O C T-17
P U R C H A S E P R I C E £14,700,000
N I Y 5.65%
C A P V A L ( P S F ) £274
A R E A ( S Q F T ) 53,590
T E N A N C Y D E T A I L S M U L T I - L E T
W A U L T ( Y E A R S ) 3.1
P A S S I N G R E N T £ P A ( £ P S F ) £886,824 (£20.93)
P U R C H A S E R CLS
A C Q U I R E D A C Q U I R E D
C B D
O OT
I N V E S TM E N T S U P P LY L E V E L S
7 / 1 0
A C R E C A P I T A L E X P E C T
• Pricing for prime and refurbished core+ and assets to remain strong especially in locations expected to benefit from rental growth and in locations benefitting from regeneration or infrastructure improvements
• Income rather than capital growth to drive returns and this will steer investment demand
• Secondary assets’ investor appeal to remain subdued
• Flux in town rankings to continue with some towns to ‘out-perform’ - especially where infrastructure changes are still taking effect
• Landlords who have undertaken high-quality, contemporary refurbishments with a focus on amenity, service provision and well-being to be rewarded in occupational performance
H E A D L I N E R E N T S
M1M40
M4
M3 M25
M25
Aldershot
HarrowMarlow
Camberley
Leatherhead
Woking
Croydon
Epsom
Sutton
Kingston upon Thames
Richmond
Beaconsfield
Henley-on-Thames
Amersham
High Wycombe
Hatfield Hoddesdon
Barnet Enfield
BerkhamstedHemel
HempsteadThame
CENTRALLONDON
£38.00READING
£39.00MAIDENHEAD
£35.00UXBRIDGE
£31.50WATFORD
£27.50FARNBOROUGH
£55.00CHISWICK
£21.00BASINGSTOKE
£36.50EALING£36.00SLOUGH
£25.00BRACKNELL
£34.50STAINES
£37.50ST ALBANS
£59.00HAMMERSMITH
£26.00RICKMANSWORTH
£34.00GUILDFORD
£33.50HEATHROW£36.00WINDSOR
I N C E N T I V E S V O I D S
R E N TA L M A P
K E Y A V A I L A B I L I T Y
C O N T A C T S
W W W . A C R E L L P . C O M
HOLLY RICHARDSON
Partner
[email protected] 3903 437107730 203428
WILL NELSON
Associate
[email protected] 3903 437007377 869621
EDWARD GAMBLE
Partner
[email protected] 3903 437307803 266214
MARK WILSON
Partner
[email protected] 3903 436907958 427643
JAMES LEACH
Partner
[email protected] 3903 437207551 434545
Trending: Stronger
ON E YOR K ROAD, UXB R I DG E
D A T E T O M A R K E T S E P - 1 7
Q U O T I N G P R I C E £ 1 1 , 0 5 0 , 0 0 0
N I Y 6 . 2 5 %
C A P V A L ( P S F ) £ 4 5 3
A R E A ( S Q F T ) 2 4 , 3 9 8
T E N A N C Y D E T A I L S M U L T I - L E T
W A U L T ( Y E A R S ) 8 . 1
P A S S I N G R E N T £ P A ( £ P S F ) £ 7 3 6 , 9 6 6 ( £ 3 0 . 9 5 )
V E N D O R A V I V A I N V E S T O R S
M ICROSOFT U K HQ, THAM E S VALLEY PAR K, R EADI NG
D A T E T O M A R K E T S E P - 1 7
Q U O T I N G P R I C E £ 1 1 5 , 0 0 0 , 0 0 0
N I Y 5 . 5 0 %
C A P V A L ( P S F ) £ 4 6 0
A R E A ( S Q F T ) 2 5 0 , 0 0 0
T E N A N C Y D E T A I L S M I C R O S O F T
W A U L T ( Y E A R S ) 8 . 0
P A S S I N G R E N T £ P A ( £ P S F ) £ 6 , 7 5 5 , 1 0 0 ( £ 2 7 . 0 0 )
V E N D O R F 1 R E A L E S T A T E
U N I LEVE R HOUS E, LEATH E R H EAD OFFICE PAR K
D A T E T O M A R K E T O C T - 1 7
Q U O T I N G P R I C E £ 7 4 , 3 4 0 , 0 0 0
N I Y 6 . 0 %
C A P V A L ( P S F ) £ 4 2 1
A R E A ( S Q F T ) 1 7 6 , 6 5 4
T E N A N C Y D E T A I L S U N I L E V E R U K
W A U L T ( Y E A R S ) 6 . 2
P A S S I N G R E N T £ P A ( £ P S F ) £ 4 , 7 6 3 , 5 0 2 ( £ 2 6 . 9 7 )
V E N D O R T A B U N G H A J I
Trending: Stable
4, TH E SQUAR E, STOCKLEY PAR K
D A T E T O M A R K E T O C T - 1 7
Q U O T I N G P R I C E £ 3 2 , 2 0 0 , 0 0 0
N I Y 6 . 7 5 %
C A P V A L ( P S F ) £ 3 9 7
A R E A ( S Q F T ) 8 1 , 4 0 3
T E N A N C Y D E T A I L S M U L T I - L E T
W A U L T ( Y E A R S ) 5 . 4
P A S S I N G R E N T £ P A ( £ P S F ) £ 2 , 3 2 7 , 4 6 6 ( £ 2 8 . 8 3 )
V E N D O R L & G
S O L D
1.2%3.7%
27.2%
22.3%
13.0%
8.1%
2%
22.3%
Property Company
Funds Private
REIT
Council
Overseas Private EquityOwner Occupier
A N N U A L B U Y E R P R O F I L E