Local Retail Partnership (Royston)
An open retail centre built in the 1960s and comprising 15 retail units with four units on the High Street
Date
October 2000
Transaction Size
£ 50m (Total transaction size for LRP)
Principal Investor
HSBC Property Investments Ltd
Accomplishments
Rental income was increased by completing rent reviews, lease renewals and carrying out a surrender of a lease and re-letting at a higher rental level
Units sold off individually to tenant, investors or through the auction room
Exit & Returns
Sold 14 months ahead of business plan at 15% ahead of business plan exit price
IRR of 85% (levered) excluding income
