30 City Road

The property was purchased in April 2004 and was a Joint Venture with a local professional services firm. It is an example of a tenant led transaction in which a simultaneous purchase and 64 per cent letting of the office space was achieved upon acquisition.

The property was sold in November 2006 for £8.6m producing a project IRR of 60 % and a RoE of 270 %.

3-5 Charing Cross Road

The property was brought in the knowledge that the upper floor sub-tenant wanted to remain in occupation and after a period of refurbishment a new 15 year lease was granted on all the upper floors, representing a 42 % rental increase. The property was largely refurbished by the landlord as part of these negotiations. Similarly the ground floor rent was reviewed resulting in a 38 % increase.

The property was sold in October 2006 for £16.5m producing a project IRR of 83% and a RoE of 144%.