Lingfield Point, Darlington

Offices, Investment

Clearbell Capital

This project was worked on by the following people, working in partnership from across our business…

Key information

Investment Disposal of Lingfield Point, Darlington

Advised Clearbell Capital on the disposal of this 85 acre business park to Frogmore for £44,000,000, reflecting 8.4% NIY. We advised on the original off market purchase for £23,000,000 reflecting 11% NIY in 2014. Clearbell achieved >2x equity multiplier and >30% IRR.

• Lingfield Point is one of the premier business locations in the Tees Valley region.
• Provides 1,350,000 sq ft of stunning award winning office and warehouse accommodation,
• 30 acres immediately available for redevelopment.
• The site has outline consent for a further 946 homes along with commercial, community and amenity uses.
• Freehold.
• The property is a key component of the north east economy, with 65 tenants and 3,000 employees.
• 77% of the total income is derived from FTSE-listed companies or government bodies including AMEC Foster Wheeler, Student Loans Company and Capita with a WAULT of 3.9 years.
• Total income of £3,940,000 per annum, reflecting low overall rent of £3.45 psf.
• ERV of £5,315,000 per annum, reflecting £4.00 per sq ft overall.
• Vacancy totals 201,487 sq ft (15%).
• Complex asset where Montagu Evan’s investment, planning and residential feasibility inputs where critical.

Acquisition of 600 & 650 Aztec West, Bristol

Offices, Investment

Sedgemoor District Council

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