Opportunity
- The Property provided Investors with an opportunity for uplift through rental reversion
- Potential to turn around a well-located asset with an ongoing refurbishment program upgrading the façade and preventing the need for large capital expenditure in preparation for the sale whilst paying a distribution
Management Value Add
- Strong occupancy levels of 100%+ maintained during the life of the fund and successfully renegotiated a 5-year option renewal
- We extended the Weighted Average Lease Expiry (WALE) from 4.85 years to 5.0 years
- Sold at an enhanced yield, delivering a 13.8% IRR to investors (relative to target IRR of 11.6%)
