Deals
Llanelli
Turner Locker Barnfield have acquired the freehold interest in 13 Vaughan Street, Llanelli for a private investor at a price of £435,000. The property comprised a shop let to British Heart Foundation for 10 years from October 2009 at a rent of £55,000 p.a. There is a tenants break option in the 5th year. The price reflects a net initial yield of 12%
Saltash
Acting on behalf of a private client Turner Locker Barnfield have puchased the freehold interest in 75 Fore Street, Saltash, let to Betfred until 2017 at a rental of £15,750 p.a. A price of £220,000 was paid.
Exeter
Acting jointly with Aaron Fox Turner Locker Barnfield have purchased the freehold interest in 2 Trusham Road, Marsh Barton, Exeter for an undisclosed sum. The property had been offered by NPS Southwest Ltd at an asking price of £600K
Exeter
Acting on behalf of Multifoil Ltd, Turner Locker Barnfield have purchased the freehold interest in the former Unichem building on Marsh Green Road West, Exeter for a figure of £525,000. The premises comprise 37,000 sq ft warehouse and factory buiding. Multifoil are relocating their exisitng aluminium foil processsing operation from Alphinbrook Road.
Plymouth
Turner Locker Barnfield have acted for a private purchaser in the acquisition and subsequent letting of a long leasehold interest in 52 Cornwall Street and 151a and b Armada Way, Plymouth. The property was purchased or £510,000 with vacant possession from Allsops Auction and 52 Cornwall Street has subsequently been let to Michael Spiers Jewellers with the two Armada Way shops also having let to local traders. The upper floors are the subject of a planning application for conversion to student accommodation.
Crediton
Barnfield acted in the purchase of 113 High Street, Crediton for a private client in the sum of £215,000. The property is let as an Indian Restaurant for a term of 20 years from October 2010 at a rent of £19,000 p.a. The purchase represents a net initial yield of 8.6%. Turner Locker acted for the Vendor.
Exeter
Turner Locker Barnfield have sold the freehold interest in Swallow Units, Alphinbrook Road, Exeter on behalf of clients to a private purchaser for the sum of £1,060,000. The property comprises 11 small industrial units of between 1250 and 2500 sq ft with a rent roll of £91,000 p.a. and one vacant unit. The sale produces a net initial yield of 8.1% and the purchaser was represented by Haarer and Goss
Chard
Turner Locker Barnfield, acting jointly with Philips Lockhart, on behalf of the Yorkshire Development Company, have sold the freehold interest in the Old Station, Great Western Road, Chard, for the sum of £850,000. The property had been let from September 2010 to The Original Factory Shop for a term of 15 years at a rent of £67,500 p.a. with RPI uplifts. The building provided 8,242 sq ft of ground floor retail accommodation and 23 parking spaces were available. The sale represents a net initial yield of 7.5%
Original Factory Shop
Gillingham. Turner Locker Barnfield have acted in the acquisition of the freehold interest in the above property on behalf of a private investor for the sum of £830,000. The property is let in its entirety to The Original Factory Shop until November 2023 at a current rent of £45,000 p.a. rising to £60,000 p.a. in November 2011. The property comprises an out of town retail unit close to Focus and Waitrose with a ground floor of 5,110 sq ft (474.74 sq m) and a mezzanine of 2,016 sq ft (187.30 sq m). Edward Preece and Co acted for the vendor.
47 Fore Street Topsham
Turner Locker Barnfield have acted in the sale of the above property to a private investor for the sum of £195,000. The ground floor of the property is let to Devon Air Ambulance for 9 years from the 25th September 2003 at a rent of £14,600 p.a. and the upper parts are let as residential accommodation on long lease, subject to a nominal ground rent. The net initial yield was 7.3%
45/46 High Street Ilfracombe
Turner Locker Barnfield have acted on behalf of Holemoor Properties Limited in the acquisition of the freehold investment at 45 – 46 High Street Ilfracombe. The ground floor of the property is let to The Original Factory Shop for 20 years from 7 October 2008 at a rental of £42,000 p.a. upon full repairing and insuring terms with 5 yearly upwards only rent reviews. There are two flats above held on long leases. A price of £595,000 was paid reflecting a net initial yield of 6.68%. Van De Berg Management Limited acted for the vendor. The ground floor provides 2,800 sq ft (260.12 sq m) of sales and there is a basement storage area of 2,282 sq ft (212 sq m).
Plymouth
Turner Locker Barnfield have acted in the sale of Unit N2, Eagle Road, Langage Business Park, Plymouth on behalf of a private investor. The price achieved was £400,000 and the property was let at a rent of £37,000 per annum. The sale produced a net initial yield of 8.83%. Monk and Partners acted for the Purchaser.
Plymouth
Turner Locker Barnfield have acted for a private investment company in the acquisition of the freehold interest in premises at Plymbridge Road, Estover Industrial Estate, Plymouth at Jones Lang Lasalle’s July auction. The premises were let to Pilkington Glass with 3 years unexpired at a rental of £177,000 per annum. A price of £1,240,000 was paid reflecting a net initial yield of 13.5%
Portfolio Sales
TLB as joint auctioneers have sold retail investment properties in Glastonbury, Llannelli, Risca, Bristol and Weston Super Mare at a combined price of £2,145,000.
Saltash – Original Factory Shop
Turner Locker Barnfield have acted for the Original Factory Shop in their acquisition of a new lease in premises at Regal House Fore Street Saltash. The premises comprise a 6,000 sq ft retail unit with 1,500 sqft of first floor ancillary space.
Offices At Matford Now Let
Turner Locker Barnfield have recently arranged a letting of the ground floor of 3/4 Cranmere Court to Living Options. The suite comprises 4,500 sq ft of good quality office accommodation and the premises will be refurbished to provide enhanced wheelchair access for the new tenant.
PLYMPTON
Acting for private pension fund clients, Turner Locker Barnfield have acquired the freehold interest in Units 1 and 2, 54 Ridgeway, Plympton for £865,000. The property is let to Superdrug and Coral Bookmakers at rents totalling £95,000 p.a. and a net initial yield of 10.4% is produced. Vickery Holman acted for the vendors.
HMO Sold In Old Tiverton Road Exeter
Acting for Homegroup Turner locker have sold a former Hostel in Exeter Old Tiverton Road. The property provides 7 letting rooms with a shared kitchen, bathrooms, shower rooms and w.c.’s.
Tan Lane Unit Let
Turner Locker have just let a 1404 sq ft industrial unit on a new 5-Year Lease, on FRI terms Tenant break option at the end of Year 2 at an equivalent rental of approx £4.85 p sq ft
Hays Staff Recruitment Lease New Exeter Office Space In EX1
Acting for Tempophase Ltd Turner Locker have let approx 3,300 sq ft of 1st floor office space at 11-15 Dix’s Field EX1 1QA. The space was taken on a new 5 yrs lease on the buildings 1st Floor. This follows recent letting to Blue Arrow on the Ground floor and Corkscrew on the 3rd Floor. Turner Locker still have just over 1000 sq ft on mostly open plan office space on the 1st floor still available to let at circa £10.50 psf. We also have some economical office space for small business available in the same location.
Freehold Trade Counter Sold In Shrewsbury
Acting for J Pack Properties was have just sold the freehold of a trade counter Unit 20a, Vernon Drive, Battlefield Enterprise Park, Shrewsbury, Shropshire SY1 3TF
181 Sidwell Street Exeter Let
Hospice Care have taken the former Blacks store opposite John Lewis.
Turner Locker acted for Landsec jointly with Alder King
Newton Abbot
Turner Locker Barnfield have acted for Greendale Investments Limited, in the sale of the freehold commercial investment in 35/37 Queen Street, to a private investor based on an asking price of £525,000. The property is let to British Heart Foundation trading as a Furniture and Electrical retail store, for a further 7 years at a rental of £50,000 p.a. The shop occupies a busy secondary location opposite Wetherspoons and close to Burger King. The price represents a net initial yield of 9%.
Kings Wharf Office Suit Let
1st of the South warehouse of Kings Wharf has been taken by Girling Jones Ltd who specialise in the recruitment of technical professionals in Design and Consultancy Building Construction Civil Engineering Facilities Management and Building Maintenance. Girling Jone who were represented by Will Hammond of Space are relocating from the Senate
Workshop Let On King Edward Street Exeter
McCoys Unit LET
Critical Mass have taken this 200 sq ft retail unit and will be selling retro video games. letting equates to approx £29.00 psf zone A
McCoy’s Arcade, off Fore Street,has some real gems. The Real McCoy specialises in vintage clothing and is ideal for those attending themed period parties. The very popular Manson’s Guitar Shop stocks everything a guitarist could possibly want from a Fender Strat to guitar strings, books and gig bags, Good Golly Miss Molly Craft Emporium sells attractive craft items. We have another unit there to let.
STA Travel Investment Sold
Acting for private clients we have sold the freehold investment of 25 Queen St Exeter. The premises are let until December 2020 at a passing rent of £26,000pa
1 Paris Street Exeter Is ‘Taking Shape’ !
Acting for Land Securites & the Crown Estate joint agent Turner Locker & alder King have let No1 Paris Street Exeter to Taking Shape
Taking Shape is a plus size fashion brand. They make clothes in sizes 14-26.
We started in Australia, so all our clothes have a
little bit of Aussie attitude: we’re not afraid of
colour, bold prints or getting dressed up.
https://www.takingshape.com/uk
Investor Buys “Cash” In Bristol
Turner Locker Barnfield, acting on behalf of private clients, have acquired 745 Fishponds Road, Bristol. The ground floor property is let to the Money Shop (Instant Cash Loans Ltd) for a term of 15 years from October 2009 at a rent of £19,500 p.a. A price of £242,000 was paid reflecting a net initial yield of 7.84%. JD Retail Property acted for the Vendor.
Hilsea, Portsmouth
Turner Locker Barnfield acting on behalf of a private investor have purchased the long leasehold interest in the Travelodge at Hilsea, Portsmouth. The asking price was £1.638M. The property is let to Travelodge Hotels Ltd. on FRI terms for 25 years from 10 August 20110 at a rent of £104,000 p.a. There are 5 yearly upward only rent reviews fixed upon RPI. Philips Lockhart Starr acted for the vendor.
Southernhay Offices Let To Architects
2nd Floor of 18 Southernhay West Exeter, Devon Let to Living Space Architects https://www.livingspacearchitects.com/
We now just have a small 3rd floor suite to let in the building 450 sq ft (418 sq m) on a new Lease Available – £4750 per annum
Lease Renewal On The Quay
acting for the owners of Kings Wharf on Exeter’s quayside we have just completed the lease renewal to https://www.mirada.tv/ who occupy approx 3600 sq ft. The new lease for 5 yrs equates to around £10.50psf
25,000 SQ FT SOLD On Marsh Barton Exeter For Calendar Club
Acting for for Calendar Club we have sold 6 Marsh Green Road to Touchwood Interiors formerly of 6 Bishop’s Court Gardens, Clyst St Mary. Touchwood undertake all aspects of cabinetry and carpentry relating to the development of both private homes and commercial properties. This includes architectural joinery, built-in and freestanding furniture.
Last Office Let At Station Masters House Exeter
Turner Locker Barnfield who also manage this office building have let the final 1000 sq ft Ground Floor suite at Station Masters House, New North Road, Exeter EX4 4HE to Primetrica Ltd
Primetrica Ltd who are a division of PriMetrica Inc based in Carlsbad VA USA have relocated from 3 Colleton Crescent also managed by Turner Locker Barnfield
GILLINGHAM, DORSET
TURNER LOCKER BARNFIELD have sold the freehold interest in a property let to The Original Factory Shop at Station Road, Gillingham in Dorset to private investors. A price of £875,000 was achieved. The lease had a further 9 years to run and the rent was £69,425
EXETER
TURNER LOCKER BARNFIELD have acted in the sale of the freehold interest in a residential care home investment at Barnfield Hill Exeter to a private investor. The property is let to Guinness Care and Support Ltd. for a further 16 years at a rental of £93,407 p.a.
A price very close to the asking of £1.25m was achieved. The Purchaser was represented by Savills.
Travelodge Portsmouth Hilsea Sold For £1.66m, Representing A 6.1% NIY
Travelodge Portsmouth Hilsea sold for £1.66m, representing a 6.1% NIY
Turner Locker Barnfield, on behalf of Vauxhall Estates, has purchased the Travelodge Portsmouth Hilsea Hotel from a private client of Philips Lockhart Starr.
The sale price was £1.66m, representing a Net Initial Yield of 6.1%. The property is let on FRI terms for 25 years from August 10th 2010. There are five year only rent reviews inked to RPI.
Exeter based Turner Locker Barnfield acted on behalf of Vauxhall Estates. Philips Lockhart Starr represented the vendor.
Dave Moxom from Turner Locker Barnfield commented:
“Our clients were seeking a secure investment with good growth and the strength of the Travelodge covenant, combined with reviews linked to RPI, made this an ideal opportunity.”
The Portsmouth Hilsea sale is the seventh Travelodge lease investment sale of this year:
Freehold Investment Purchased- Vanguard House Yeoford Way Matford Park Exeter
Private clients of Turner Locker Barnfield have purchased the freehold interest in Vanguard House, an office building completed in 2004 on Matford Park Exeter. The offices are let to BDW Trading LTD trading as Barratt and David Wilson Homes for a term of 10 years from December 2002 at a rent of £110,000 per annum. A price of £1,515,000 was paid reflecting a net initial yield of 6.9% JLL’s Bristol office acted for the vendor.
https://www.barratthomes.co.uk/
Seaton – A New Store
Turner Locker Barnfield have acted for Original Factory Shop in the acquisition of a new lease of 8 Harbour Road, Seaton. The shop comprising 8,000 sq ft was previously occupied by Rainbow Stores. The London office of Lambert Smith Hampton acted for the Landlord.
Newton Abbot
Acting for a private investor, Turner Locker Barnfield have acquired the freehold interest in 18 Queen Street Newton Abbot for the sum of £350,000. The property is let to Cancer Research for 10 years at a rent of £26,700 p.a. upon full repairing and insuring terms providing a net return of 7.28%. Gerrard Matthews, Chartered Surveyor, acted for the Landlord.
Nailsea – Pension Fund Return
Turner Locker Barnfield have acted for a private pension fund in the acquisition of 61/63 High Street Nailsea. The price paid was £795,000 and the property is let to The Factory Shop Limited, for a further 15 years at £65,000 p.a. comprising an 8,000 sq ft shop and a 22 space private car park. The fund will benefit from a net initial yield of 7.75%. Savills acted for the vendor.
Yeovil
Turner Locker Barnfield have negotiated a sale of the freehold interest of a 135,000 sq ft tannery complex and factory shop to Pittards, who have occupied the premises for many years, recently as tenants. The price paid was £3,600,000 and the deal will enable Pittards to invest in their business and the premises with confidence in the future.
Beaumont House, Plymouth
A freehold office investment has been purchased by private clients of Turner Locker Barnfield for £1,150,000. Occupied by Nash & Co solicitors as their head office for many years and originally an 18th century country house, Beaumont House is Grade 2 listed and adjoins Beaumont Park, just a short walk from the City Centre. The investment will produce a net return of approximately 8.1% for the investor. Savills acted for the vendor.
Waterside Office Investment Acquired
Acting for Yelverton Property we have aquired one of Exeter’s iconic office buildings, Kings Wharf. Sat on the banks of the River Exe Kings Wharf with its distinctive glazed atrium is a wonderful combination of period charm and modern offices with ground floor retail and cafe units. Totalling some 26,000 sq ft in two former wollen warehouses. Currenlty the single available office suite is under offer.
Producing an income of well over £200,000pa the building will continue to be managed by Turner Locker Barnfield Ltd.
Waterfront Office Let To MARINE CONSULTING ENGINEERS
Acting for Yelverton Property we have just let more office one of Exeter’s iconic office buildings, Kings Wharf. Sat on the banks of the River Exe Kings Wharf with its distinctive glazed atrium is a wonderful combination of period charm and modern offices with ground floor retail and cafe units. Totalling some 26,000 sq ft in two former wollen warehouses.
Very appropriately the new tenants are https://www.longitude.uk.com/ a specialist engineering consultancy dedicated to providing naval architecture, structural design and analysis services to the marine, offshore, renewable energy, superyacht and small craft markets.
Longitude was founded in 2006 by a leading international marine warranty surveying company, as an independent dedicated engineering design consultancy. Since then Longitude has opened offices in Singapore, United States, United Kingdom and Mexico with a full time staff of naval architects and structural engineers, backed-up by a network of specialist freelance engineers.
Their new Exeter offices offer fine open plan accomodation but with many period features and fine views
5000 Sq Ft Office Letting Exeter City Centre
Acting for the landlord Signal Property we have just let the 3rd floor of this prominent Exeter city centre building to Ford Simey Solicitors. This follows hot on the heals of another letting to Darnells Accountants and means that the 40,000 sq ft Forum is now fully occupied – our joint agents were Stratton Creber & Kirkham Board represented the tenants.
The Forum Barnfield Road Exeter EX1 1QR Modern open plan city centre office to let Exeter 7000 sq. ft. Modern air conditioned open plan offices in the heart of the city centre offering approx 7000 sq ft on a single floor plate. parking available
Yard Let To Skanska Plc On Sowton Industrial Estate Exeter
Acting for Rensham PLC we have let a yard of approx. 1.4 acres on the Sowton Industrial Estate Exeter at £70,000pa to Skanska after Skanska was picked by Devon County Council to deliver highways term maintenance late last year in a deal worth £245m.
Simon White, Operations Director for Skanska, said: “We are delighted to continue our delivery of highways maintenance services for Somerset County Council. This long-term partnership enables us to deliver a responsive and high-quality highways maintenance service for communities and road users across Somerset.
“Using our locally based teams and suppliers, combined with innovative solutions from across our business, we will help maintain and improve roads across the county.”
Skanska was awarded the contract following an extensive procurement process which was carried out jointly with Devon and Plymouth Councils to ensure competitiveness and to put in place opportunities for future collaborative working.
Freehold Sold
Acting for the freeholders we have sold 9 Bartholomew Street West Exeter. The current occupiers Stage by Stage are relocating https://www.stagebystage.co.uk/
Totalling 398 sq. metres (4283 sq. ft.) offers were invited in excess of £350,000
Office Let In Grade Two Listed Building
Acting for long standing clients we have let 2600 sq ft on the 2nd floor of Dixs field Exeter Ex1 to https://www.getbackincontrol.co.uk/
Based in Exeter, Devon, InControl are one of the South West’s largest Debt Advice companies, with clients from all over the UK.
The letting equates to £11.00 psf
Ground Floor Southernhay Offices Let To Smart
10 Southernhay west had been the home of Jackson Stops since the mid 1980’s until their recent move across the road. Acting for the freeholders we have now re let the space to Smart Estate agents continuing that estate agency theme. Stratton Creber were our joint agents. This letting follows close on the heels of the re letting of the 3rd floor of this building after the retirement of the last tenant.
5 Old Tiverton Road Let To Pura Vida
This prominent unit has now been let to Pura Vida as a second unit to compliment their successful formula in Exeter’s Well Street.
https://www.facebook.com/PuraVidaCoffeeClub
New Tenant For Dix’s Field
Acting jointly with LSH we concluded a letting of a prestigious grd floor suite to Porter Dodson LLP https://www.porterdodson.co.uk/have taken a 10 yr lease of suite of circa 2378 sq ft along with parking at 11-15 Dix’s Field at £18.50 psf . The refurbished suite is open plan despite the building grade 2 listed status. Further space is available in the building too from the agents
Honiton – Complex Deals Completes
Acting as letting & managing agents for the freeholder we have managed to orchestrate a complex series of deal at 88-90 High St, Honiton. The whole property was head on single lease to Bookers (now part of Tesco) but had been sublet for many years to a Spar franchise and a Martial arts gym on the 1st floor. The head lease was surrendered early , the retail business sold by https://www.huntleyandpartners.com/about-us and new leases granted to the new retail operators and to https://twintigershoniton.co.uk/