08 Mar 2017 - Europa Capital and Addington Capital sell in Rotherham
Europa Capital, and partner Addington Capital, the property, investment and asset management specialist, announce the sale of the Webhelp Call Centre in Dearne Valley, Rotherham to a privately owned Isle of Man property company for £6.875 million, reflecting a net initial yield of 9.25%.
The freehold property comprises a 62,700 sq ft modern two-story building, with 440 car park spaces and is let until March 2024 at a rent of £675,000 per annum (£10.75 psf).
Europa Capital and Addington acquired the property as part of Prospect Portfolio in January 2016.
Hugo Black, Partner at Europa Capital, commented: "This represents the seventh sale out of the original 26-property portfolio, while various value-accretive initiatives are being pursued on the remainder of the portfolio."
Matthew Allen, Principal of Addington Capital said: "This deal follows on from our flurry of investment sales announced in February and is a further testament to the strength in demand for sub £10 million properties. Breaking up portfolios acquired over the past 2/3 years remains further underpinned by the strong auctions market."
Allsop & C&W acted jointly for the seller and Andrew Dixon & Company of Telford advised the purchaser.
For further information, please contact:
Gordon Simpson/ Elizabeth King, Finsbury: +44 20 7251 3801
About Europa Capital:
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.
Since 1995, Europa Capital has collectively raised 9 real estate funds and committed to over 105 transactions totalling more than €9.5 billion across 19 European countries.
The Europa Funds benefit from Europa Capital's established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Europa Capital is a member of Rockefeller Group International, Inc. ("RGI"). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at http://www.europacapital.com
About Addington Capital
Addington Capital was set up in 2010 by Martin Roberts and Matthew Allen, as an independent asset management and investment business. Since inception Addington has completed over £800 million of deals by value and has an established platform in the office, retail and residential sectors.
Addington acts as an operating partner and works closely with its partners to create value through active asset management. Please visit http://www.addingtoncapital.com