Archive for the ‘Article’ Category

Flurry of activity in Richmond

Forge was established to provide end-to-end services to our clients, offering leasing, lease advisory and investment expertise – covering the entire life cycle of property ownership.

We therefore take great satisfaction in announcing a selection of deals in Richmond-upon-Thames, spanning all three service-lines within the business:

– New letting to Black Sheep Coffee at 1-2 Kew Road on behalf of Basildon Borough Council.

– Lease renewal and lease re-gear with Greggs and Flying Tiger Copenhagen respectively on behalf of CBRE Investment Management at 35-37 The Quadrant.

– At 11 The Quadrant we advised on the lease renewal with Ryman, on behalf of Columbia Threadneedle Investments.

– Most recently, we completed the sale of 28 Hill Street to a private investor, on behalf of Tri Capital Properties.

These transactions showcase our ability to deliver consistent results across all facets of the business, using our intimate knowledge of the markets we operate in to produce positive outcomes for our clients.

Sandwich Sandwich arrive in the City

Forge are delighted to have advised the Landlord on the letting to Sandwich Sandwich at 1 Gresham Street, EC2V.

Nick, Josh, Chaker, and the team have built something special, demonstrating the power of creative marketing campaigns and a strong social media following. Most importantly, they have developed a fantastic product that keeps consumers coming back.

Although it has only been six weeks since they opened their doors, the queues continue to form around the corner on a daily basis, and we are confident they will prove to be a successful long-term Tenant for our client.

At Forge, we pride ourselves on delivering best-in-class advice to our clients and we have more opportunities coming to market shortly across the City of London.

Please get in touch with the team for further information.

CBRE IM sell Rudy’s Pizza, Spitalfields

Forge have advised CBRE Investment Management on the successful disposal of Rudy’s Pizza Napoletana, 27 Spital Square, London E1.

Having let the asset on behalf of our client, and then subsequently marketed the investment, we were particularly pleased to see the the sale through to a strong exit.

Many thanks to howard brecker and Damien Field of Robert Irving Burns, who acted on behalf of the buyer, a private investor.

Thanks also to Holly Smith who advised our client on legals.

For further information please contact Joe Baio, Jonathan Mills, Adam Robinson or Liam Jones.

Nuveen sell Primark, Lewisham

Forge are delighted to have advised Nuveen, a TIAA company on the succesful disposal of 180-190 High Street, Lewisham.

The property comprises 54,360 sq ft and is entirely let to Primark for a further two years on FRI terms.

Following a highly competitive bidding scenario, Forge were able to execute the sale well ahead of the quote price of £7.59m / 6.50% NIY.

Many thanks to Chris Thomas and Richard Bashford of CBRE who acted on behalf of the purchaser.

To discuss similar opportunities, please contact Jonathan Mills or Joe Baio.

Popeyes, Cambridge sold for CBRE IM

Forge have advised on the successful disposal of 3-4 Market Hill, Cambridge, on behalf of our client, CBRE Investment Management.

Situated in a prime location in one of the UK’s strongest retail centres, the 6,866 sq ft asset is part let to Popeyes and part-vacant.

Forge were delighted to garner a strong level of investor interest, and secure an excellent result ahead of the quoting terms.

Many thanks to Phil Hay of Jackson Criss who acted on behalf of the Purchaser, a private investor.

To discuss this or other opportunities, please contact Jonathan Mills or Joe Baio.

Jaspar Group exit Topps Tiles, Sutton

Forge are pleased to have advised Jaspar Group on the successful disposal of 341 High Street, Sutton.

The property, which is let to Topps Tiles until October 2028, provides a single-storey unit of 5,575 sq ft on a 0.4-acre site.

Following a highly competitive bidding scenario, Forge were pleased to conclude the deal with a private client of Simon Gregory of Smith Price RRG.

For further information, or to discuss similar opportunities, please contact our investment team.

CBRE IM complete sale of Cheltenham

Forge are pleased to have advised CBRE Investment Management on the disposal of 86-90 The Promenade, Cheltenham.

The property, which is let to Waterstones Booksellers Ltd and Hobbs Ltd, provides 17,269 sq ft of prime High Street retail accommodation.

Following a competitive bidding scenario, Forge were pleased to conclude the deal with a private client of Alastair Bird at Knight Frank.

For further information, or discuss similar opportunities, please contact our investment team.

Pret A Manger, Leeds acquired off-market

Forge are pleased to have advised a private investor on the off-market acquisition of 6 Lands Lane & 27 Albion Place, Leeds.

The property, which is let to Pret a Manger, comprises 5,561 Sq ft across five floors, and is situated in a core city centre location.

Joe Baio commented, “Having tracked the asset for nearly 12 months, we were very pleased to have secured this attractive deal in Leeds, off-market. The building is situated in a prime pedestrianised pitch and is well-let to Pret a Manger, benefitting from medium-term reversionary potential.”

Forge have now concluded in excess of ten leasing, investment and lease advisory deals in Leeds over the last 18 months.

Many thanks to Patrick Over of EYCO who acted on behalf of the Vendor.

For further information please contact our Investment Team.

Nuveen disposal on Market Place, Romford

Forge are pleased to have advised Nuveen, a TIAA company on the off-market sale of Market Place, Romford.

The property comprises a purpose-built retail parade of 67,651 sq ft, and is situated at the heart of Romford’s retail core.

Notable tenants in the parade include: Iceland, Home Bargains and BHF.

For further information, please contact our Investment Team.

Record Yield Achieved on Edgware Road

Forge are delighted to have advised an overseas private investor on the disposal of 184a Edgware Road & 2-10 Crawford Place, W2.

Following a targeted marketing campaign and bids scenario, the asset sold ahead of quote, at a level reflecting a capital value of £770 per sq ft and a Net Initial Yield of 2.09%.

It was great to work with Alex Butler of Allsop LLP who advised the private purchaser.

For further information, or to discuss similar opportunities please contact Joe Baio or Jonathan Mills