Yellow Warehouse
  • Warehouse Glasgow

    IO Centre, Glasgow

    • Established industrial location, 6 miles east of Glasgow city centre, adjacent J9 of M8.
    • Early 2000s build comprising 49,910 sq ft in 5 units.
    • Acquired in June 2014 for £3,070,000 (£60.25 psf) with a 1.5 year WAULT.
    • 14% vacancy on acquisition (Unit 5) which was expected to rise to 45% within 5 months of purchase (Units 1 & 2).
    • Negotiated surrender of Units 1 & 2 leases, receiving a premium of £65,000, and completed a simultaneous letting to a national covenant on a 10 year lease at ERV.
    • Completed lease of vacant Unit 5, and regeared lease of Unit 4 for a further 5 years, giving a WAULT upon sale of 9.2 years.

    Sold in December 2015 at an apportioned price of £4,000,000 (6.70% / £80psf), showing a 30% increase in value since acquisition.

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    Glasgow

  • Warehouse Basildon

    Hovefields Court, Basildon

    • Estate refurbishment
    • Established South East location
    • 1980s build comprising 58,000 sq ft in 11 units
    • Acquired in August 2012 at a capital value of £30.57psf with 75% vacancy
    • ERVs at £4.00psf
    • Full external refurbishment
    • Full occupancy achieved within 3 months due to raised profile within the local market
    • Rents achieved of £5.00psf ft reflecting 25% growth

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    Basildon

  • Warehouse Leeds

    Revie Road Industrial Estate, Leeds

    • Adjacent to J2 of M621, approximately 2 miles south west of Leeds city centre.
    • 1980s build comprising 61,813 sq ft in 5 units.
    • Acquired in October 2012 for £2,100,000 (£35.00 psf) with 26.5% vacancy in 1 unit
    • ERV of £4.00 psf.
    • Implemented capex programme of £114,000 (£1.84 psf), incorporating external refurbishment and the reconfiguration of 2 units totalling 22,000 sq ft in order to cater for a live occupier requirement identified within the market.
    • Achieved £4.25 psf on reconfigured unit leading to full occupancy.

    Sold in December 2015 at a price reflecting £3,515,000 (7.40% / £59psf), showing a 68% increase in value since acquisition.

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    Leeds