On behalf of a private investor we advised on the acquisition of 2 leisure assets, the first being a freehold building in Croydon which was let to a major pub group on ground and first floors. Most investors had not spotted the angle of taking the first floor back into ownership and converting to residential which the owners have now done, realising a tremendous profit in the process.
The same investor also purchased a prominent building opposite Euston station, and in the process completed a sale and leaseback with the existing owner/operator on improved lease terms. The upper parts were further developed into student accommodation providing solid income spread over different asset classes.
£10m