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Sale of Danish KS Coop investment in Loftus
Lukeman Cave acted for a Danish KS in the sale of a Coop investment at 29-30 High Street, Loftus, Cleveland. The property comprises a High Street store arranged on ground and first floor of 5095 sq ft. The property is let to Cooperative Group Limited on a lease expiring December 2031 at a rental of £87409 per annum. The purchaser was a private SIPP represented by Carrick Real Estate.
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Hotel Investment, IBIS, Enstone Court, Wellingborough
Lukeman Cave acted for a Danish KS syndicate in the sale of an out of town budget hotel Investment in Wellingborough. The hotel comprises 78 bedrooms with on site parking for 86 vehicles, built in 2000, on a site area of c 1.4 acres. The asset Is let to Accor UK, trading as IBIS Hotels, at a rental of £320,253 per annum with a lease expiry in 2025. The purchaser, Cooper Estates were represented by Farm Street REI.
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Investment Sale Costa Drive Thru and EV Points Lands End Way Oakham
Lukeman Cave acted for vendor Mufty Developments in the sale of a newly constructed Costa Drive Thru which adjoins Mc Donalds close to Oakham town centre. Practical Completion was in September 2022. The development consists of an 1,800 sq ft drive thru pod together with ancillary parking and 6 EV points. The development is let to Costa and EV Network at a combined rental of £91,000 per annum. The sale price was £1.78m net of rent free. The purchaser, The Colin McDavid Family Trust was represented by Legat Owen.
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New Coop Food Opens in Lichfield
Central England Coop have opened their new community store at Fosseway Gate in Lichfield following Practical Completion. Lukeman Cave represented the developers in the transaction.
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Boots, 4-8 Tamworth Street, Lichfield
Private Investors of Lukeman Cave have acquired this prime retail investment in Lichfield City Centre. The property comprises 8,304 sq ft over Basement ground and Firsts floor and occupies a prime trading location. The property is let to Boots UK Ltd for 5 years from April 2021 at a rental of £64,160 p.a. and Boots have been in occupation since 1974. The freehold was acquired for £935,000 reflecting a net initial yield of 6.5% after acquisition costs. Lukeman Cave acted for the Purchaser. Allsop acted for the vendor, HPUT Trustees.
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Lukeman Cave Asset Management Mandate
Lukeman Cave has been appointed to asset manage a BUPA Care Home investment in Huddersfield and a Public House investment in Bolton on behalf of private Danish KS Syndicates. The Care Home is leased to BUPA and comprises 45 rooms offering residential, convalescent, and palliative care as well as support for people with MND, Parkinsons, and Huntingtons Disease. The appointments add to the existing asset management portfolio.
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The Plough, Public House, Stafford Road, Uttoxeter
Private investors of Lukeman Cave have acquired this public house investment in Uttoxeter. The property comprises a roadside pub, car park, and beer garden, immediately adjacent to a new 450 plot housing development .The property is let to Tiger Jack Brewery Co on a lease expiring 2028 without break and subject to annual fixed/RPI uplifts. The purchase reflects a net initial yield of 7.2% rising annually to 10% in year 5. Lukeman Cave acted for the purchaser. Matthew Phillips Surveyors represented the private Vendor.
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1 The Courtyard Harris Business Park, Bromsgrove
Private investors of Lukeman Cave have acquired a freehold office investment on Harris Business Park in Bromsgrove. The property comprises a modern 2 storey detached office building with 8 car parking spaces. The property is let to Quantum Risk Management on a lease expiring 2022. The purchase reflects a net initial yield of 10% and a CapVal of £100 psf. Lukeman Cave represented the private buyer. KWB in Birmingham represented the vendor, Investec Retirement Benefit Scheme.
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New Store Central England Coop, Lichfield
Private clients of Lukeman Cave have exchanged contracts with Central Midland Coop for a new store in Lichfield. The store will comprise 5,000 sq ft Food Store with 15 on site car spaces. Lukeman Cave acted for the developers in respect of the Agreement to Lease.
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St Swithins Street, Worcester
Private clients of Lukeman Cave have acquired a retail investment on St Swithins Street in Worcester City Centre. The asset comprises 2 retail units with ancillary storage on the upper parts . The property is held on a single overriding lease for a term of 25 years from 2017 without break to a local covenant who have been in occupation for 20 plus years. The purchase reflects a net initial yield of 9%. Lukeman Cave represented the purchaser. Revelan Estates were the vendor.
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43 Birmingham Road, Sutton Coldfield
Private clients of Lukeman Cave have acquired this funeral care investment in Sutton Coldfield town centre. The asset is let to Dignity Funerals on a lease expiring December 2036 with no breaks. The property comprises a funeral care facility with on site parking. In addition there is a development site included in the purchase with access from Birmingham Road. Lukeman Cave represented the buyer. Burley Browne acted for the private vendor.
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4 Wicker Hill, Trowbridge, Wiltshire
Private clients of Lukeman Cave have acquired a town centre investment in Trowbridge let to Cooperative Funeralcare. The asset is let on a lease expiring 2024 and comprises a ground floor retail area of c.1,300 sq ft with self contained residential upper parts and ancillary parking for 4 vehicles. The purchase represents a net initial yield of 6.1%. Lukeman Cave represented the purchaser. Singer Vielle acted for the vendor.
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Moving Office!
Lukeman Cave have moved office. New address is 42 High Street Sutton Coldfield B72 1UJ.
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55 Greengate Street, Stafford
Clients of Lukeman Cave have acquired the freehold retail investment in Stafford town centre. The property is located in a prime reading pitch on Greengate Street adjacent to Boots, WH Smith, McDonalds etc. The property is let to Carphone Warehouse on a rebased rent and comprises c.1,500 sq ft ground floor sales with ancillary first and second floor storage. The purchase represents a net initial yield of 10.2%. Lukeman Cave acted for the private purchaser. FHP Property Consultants acted for the vendor.
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91 Long Street, Atherstone, Warwickshire
Private clients of Lukeman Cave have acquired a mixed retail and residential investment in Atherstone town centre. The property is let to Greggs on the ground floor with two 2 bedroom flats on first and second floor. The flats are separately accessed and will be let on AST leases after a refurbishment programme. Lukeman Cave acted for the purchaser. Revelan Estates were the vendor.
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5 High Street, Uttoxeter, Staffordshire
Private clients of Lukeman Cave have acquired the Specsavers investment in Uttoxeter town centre. The property is let to Specsavers on an overriding lease until 2025. The property comprises a ground floor retail area of c 1700 sq ft with separately accessed upper parts on 2 floors with ancillary parking. Lukeman Cave represented the purchaser. The vendor, Marley Pensions, was represented by KLM Retail.
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Lukeman Cave Win Danish KS Asset Management Mandate
Lukeman Cave has won the instruction to asset manage 14 commercial investment properties owned by Danish KS syndicates. The assets are located throughout the UK and comprise a mixture of retail, pubs, care homes, and hotels. Tenants include JD Wetherspoon, Travelodge Hotels, Care UK, Accor Hotels, and Coop.
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HSBC Bank, Anchor Road, Aldridge, West Midlands
Private clients of Lukeman Cave have acquired a freehold bank investment in Aldridge town centre. The property is let to HSBC Bank PLC until 2021. The property comprises a ground floor banking hall, first floor staff/storage and a customer car park to the rear for 12 vehicles. The purchase represents a net initial yield of 7%. Lukeman Cave represented the purchaser Fosse Way Investments.
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Bolt Court, Market Street, Lichfield, Staffordshire
Acquisition on behalf of private clients of Bolt Court Lichfield. The property comprises 5 retail units fronting Market Street in Lichfield City centre producing a total income of £146200 pa. Lukeman Cave represented the purchaser and Acuitus the vendor.
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Lloyds Bank, Carter Street, Uttoxeter
Private clients of Lukeman Cave have acquired the freehold investment of 3-5 Carter Street in Uttoxeter town centre. The property is let to Lloyds Bank PLC for a term expiring 2023. The property comprises a ground floor banking hall with ancillary offices at first and second floors with a large garden area to the rear.
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Shevington Court Nursing Home, Rainhill, Prescot, Merseyside
Lukeman Cave have advised on the sale of Shevington Court Nursing Home in Merseyside on behalf of a private Danish syndicate. The investment comprises a purpose built nursing home with 46 rooms with on site parking and is let to Whitbread Hotel Group on a lease expiring 2030 at a rental of £237,000 p.a. Gerald Eve represented the purchaser.
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City Arcade Bore Street and Market Street Lichfield
Private clients have acquired a mixed retail investment in Lichfield City Centre . The asset comprises 21 retail units with frontages to Bore Street and Market Street with on site roof top parking for 20 vehicles. The intention is to asset manage/refurbish/redevelop the property to improve the tenant and income profile. Lukeman Cave acted for the purchaser. Colliers CRE acted for the vendor LPA Receiver.
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Propertee Cup – Big win for Investment Team
The Investment Team wins the annual golf match against the Office Agents Team 7-5 at Edgbaston Golf Club. Matt Lukeman represented the investment team. All came down to the last match on the last green but a wins a win!
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Warwick House, Ratcliffe Street, Atherstone
Pergola have acquired the freehold of Warwick House in Atherstone town centre. The asset comprises c.6,000 sq ft of offices together with on site parking. The property is part let to Lloyds Chemist on the ground floor. Lukeman Cave acted for Pergola. Vail Williams acted for the LPA Receiver.
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79 Regent Street, Leamington Spa
Solihull School have completed the purchase of 79 Regent Street, Leamington Spa. The property is leased to Britsh Heart Foundation with an unexpired term of 3 years. Lukeman Cave represented the Governors of Solihull School. Cushmans acted for the vendors Wesleyan Trustees.
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Stafford Street, Hanley, Stoke on Trent
Lukeman Cave have advised private clients on the sale of 19-23 Stafford Street, Hanley. The investment is let to AGE UK and Salvation Army. The purchaser is a private syndicate represented by Maunder Taylor.
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1 Tamworth Street, Lichfield
Pergola have acquired the freehold of 1 Tamworth Street, Lichfield. The property has been redeveloped to provide ground floor retail and two 2 bedroom executive apartments. The ground floor has been let to ES Jewellery (Pandora). Lukeman Cave acted for Pergola.
