Peer Group is in the market to source new property investments to add to our existing £200m portfolio.
Our ideal target search areas are London Bridge and surrounding areas, where we are already set up to run management buildings close to our Head Office at the Hop Exchange, and also modern Industrial opportunities within a 120 mile radius of London. We will look at other income producing opportunistic situations if the reasons are compelling.
Lot size is more likely to be driven by the rent roll and number of Tenants. For our industrial requirement we will look at rents where individual Tenants are paying no less than say £50,000 p.a. and no more than say £200,000 p.a. Ideal lot size would be say £3m to £6m.
The Southwark requirement is less sensitive to small rent sizes as we are already set up to run management buildings in this area and they are of course very local for us too. We can be more opportunistic in what we look at.
If there are opportunities for future development or asset management then that is good although we are looking for investments that are income producing in the first instance.
Our Pension Fund also has a requirement to spend up to £2m with a preference for modern industrial or possibly good quality retail.
Cash is available to execute swift transactions and prompt decisions will be taken. Fees will be paid to non retained agents for recognised introductions.