EPF acquired Riding House Properties as a corporate transaction. The company contained two freehold properties, which offered potential to add value through asset management.
The Windsor property comprises an attractive period building a few yards away from the majestic Windsor Castle, nestled amongst quaint tea houses, olde worlde pubs and tourist shops on the cobbled and winding Church Street. The vacant ground floor commercial was swiftly prelet to a multiple restaurant operator with a strong presence across London and the South East. http://www.clarencebrasserie.co.uk/
EPF has implemented a further strategy of intense asset management to crystalise value, including regearing of residential leases on the upper floors and a modernisation/improvement programme of interiors.
The second property, in one of Norwich’s prime retail and leisure pitches- Orford Place- offered the opportunity to acquire a property at a vacant value whilst simultaneously enhancing the value through the letting of the property toa multiple Asian food operator.
Investment Rationale and Asset Management
Vacant properties in excellent locations offering immediate opportunities to add value.
- Letting of commercial space to successful operators.
- Enhanced cash-on-cash returns
- Asset management opportunities with potential regearing of residential leases.