millennium group · 2019-10-17 · redevelopment of assets such as the king’s reach tower, se1...

Services that we can offer overseas clients with UK assets include:

Investment AdvisoryLease Consultancy – rent reviews & restructures

Asset & Development Management

Development Consultancy Valuation Office Leasing

Residential Development & Investment Business Rates

Property Management

“During 2018, the UK market saw in excess of £56Bn of commercial property investment transactions. Circa £20Bn of this was in Central London and a significant proportion (almost 45%) was from Asia – based capital.”

Allsop LLP & Millennium Group

UK property consultants Allsop LLP and Asia-based property advisors Millennium Group has formed an alliance to strengthen their services to advise existing and new Asia-based investors looking to deploy capital into UK real estate.

It serves to leverage long-standing relationships and understanding of client needs in Asia with the experience, expertise and extensive local market knowledge of UK markets.

This international synergy enables us to create informed, sensible, bespoke strategies through the entire cycle of property investing – tailored to individual or corporate requirements.

About About

• Established in 1906

• Independent property consultancy (LLP)

• 24 Equity Partners

• 152 Fee Earners

• Each instruction is Partner-Led

• Offices in London West End, London City, Leeds and Brighton

• Pride ourselves on our open, friendly and honest business approach

• Market-leading reputation for high quality service, market knowledge, insight and expertise

• Established in 1998

• Full Asia coverage

• Numerous long-standing relationships with Asia’s most prominent property investors

• Property management partnership with MJ Mapp

Allsop is an independent property consultancy, with a market-leading reputation for high quality service, market knowledge, insight and expertise. The firm has 24 equity partners and 152 fee earners and each instruction the firm undertakes is always partner-led. Their success is built on over 100 years’ experience in commercial and residential property consultancy, sales and acquisitions and they pride themselves on their open, friendly and honest business approach.

The specialist investment teams cover London West End, London City and UK National markets, and provide a personal service and the depth of market knowledge that enables clients to achieve the best return on their commercial property investments. Allsop have advised on a cross section of single and portfolios of commercial and residential assets and have transacted on properties ranging from £1 million to £300 million.

The firm also offers a dedicated residential property management service and currently manages over £1.5bn property across the UK.

Millennium Group specialises in sourcing, acquiring, managing and maximising institutional grade property in prime international markets, typically valued in excess of £50 million (HK$500 million) per investment. With over 30 years’ experience they have developed numerous long-standing relationships and mutual trust with Asia’s most prominent property investors.

These investors include many of Asia’s most prominent high net worth individuals, institutional investors, developers and sovereign wealth funds.

Their Asian clientele extends from Hong Kong and mainland China to Singapore, Korea, Taiwan, Japan, Malaysia and Indonesia, with relationships also in Thailand and IndoChina.

They have concluded over £1.6bn acquisition transactions in the hotel, office, retail and residential sectors. They are currently asset managing £210 million and development management of £675 million GDV. Millennium Group with its property management partner MJ Mapp, manages £2 billion worth of commercial properties.

For more details on all Allsop services visit www.allsop.co.uk

For more details on The Millennium Group visit www.millenniumgroup.net

Facts and Figures

EMEA Asset Management

£875M

Development Management

£125M confirmed

£675M is in negotiation

Investment Transactions

£2BN

Asian Client Activity

Allsop corporate summary

Top 10ranked Investment Agency Practice

£1.4BNin the last year

In Top 15 UK property consultants on overall turnover

2,690 transactions completed in the last year that’s almost 2 an hour

0

Allsop National Investment Team transacted approx

10% of the investment portfolio market over the last 2 years

In excess of

5% of market volume transacted by the West End team in 2018

Valued over

£13BNof property in 2018

Residential property management of

£1.5BN property across the UK

Key Personnel

James AbrahamsPartner - Allsop LLPLondon City Investment & Development Team

T+44 (0)20 7330 1979 M+44 (0)7968 056 [email protected]

Nick PembertonPartner - Allsop LLP London West End Business Team

T +44 (0)20 7543 6775 M +44 (0)7711 070 [email protected]

Martin KayeChief Executive Officer - Millennium GroupHong Kong

T +852 2297 2206 M +44 (0)7481 414 [email protected]

James’ career began in 1999 with Allsop LLP and he has worked in the City Investment and Development Division since 2001.

In 2016 he was made an Equity Partner in the City Investment and Development Team.

Relevant Expertise / Specialism

• James has acted for Receivers on the sale and redevelopment of assets such as the King’s Reach Tower, SE1 complex for £60M and the High Holborn Estate, WC1 for £45M as well as the recent purchase of 133-137 Whitechapel High Street, E1 for £26M on behalf of the City of London Corporation.

• Current sales include the sale of the Relay Building, a 105,000 sq ft office & retail building on Commercial Street in the heart of Whitechapel, EC1 and the sale of Palace House, London SE1.

• James was recently involved in the sales of the Relay building, a 105,000 sq ft retail and office building on Commercial Street for c.£90.75m and more recently the sales of Ibex House, Minories for £121.5M and 9 Prescot Street, E1 for £53.5M.

Nick has over 20 years’ experience in London’s West End commercial property market.

Prior to joining Allsop, Nick was a partner at Godfrey Vaughan for 10 years, before merging with Colliers International where he subsequently spent 3 years as Head of West End Investment.


• Central London capital markets specialist.

• Specialises in UK Funds sales, and Private Overseas Client investment purchases.

• Asset Management for clients on key assets.

• Nick also advises a number of Private UK Landlords and Family Offices representing interests in the Middle East and Asia.

Marty has over 30 years’ professional experience in Real Estate, and he founded the Millennium Group in 1998.

He launched his real estate career in Hong Kong in 1984 at Richard Ellis (now CBRE), rising to Executive Director heading the Agency department and leading the Asia-Pacific investment and agency divisions.


• Diverse experience embracing construction / development, investment and acquisition, advisory and asset management.

• Established a wide network of close, long-term relationships with prominent high net worth individuals, institutional investors, property developers, sovereign wealth funds and senior government officials across Asia.

• Recognising the potential of the UK property market growth since 2012, he has been advising Asia-based capital on UK assets and has acquired over £1.6Bn of commercial and residential real estate.

Key Personnel

Piers GloverPartner – Allsop LLPAsset and Development Management

T+44 (0)20 7543 6810 M +44 (0)7802 609 [email protected]

Chris RoomPartner – Allsop LLP London City Investment & Development Team


Scott TylerSenior Partner National Investment


Piers joined Allsop in 2011 from GVA Saxon Law where he was Head of West End investment and development to co-Head the West End Business team with Nick Pemberton.

The West End Business team offers investment, development and leasing advice. Piers is involved in all disciplines across the team providing a holistic view from each stand point, having worked in the Central London market for over 20 years.


• Heads the Asset Management team – advice is provided on a number of assets including Imperial House, 13-17 Kingsway, WC2, 50 Curzon Street, W1, 65 Curzon Street, W1, 20 Red Lion Street, WC1

• Investment – transactions including the purchase of 3 of the 11 properties in the £1.1 billion WELPUT portfolio.

• Development - Piers’ development experience was instrumental in the purchase of 40-48 Broadway, SW1 (£43.75m), 13-17 Fitzroy Street, W1 (£98.5m) and 26-46 Lisson Grove, NW1 (£25m)

• Leasing

Chris started his career in London in 2010 with BNP Paribas Real Estate where he worked in the Central London Investment team for 6 years before joining Allsop in October 2017 as a Partner in the Commercial Investment team, focusing on the City, Midtown, South Bank and City fringes.


• Development and Investment Sales and Acquisitions

• At BNP Paribas, Chris was involved in the some of the team’s largest transactions including Citygate House, Finsbury Square EC2 on behalf of Bloomberg HQ to Brookfield (£110m), Buchanon House, Holborn, EC1 on behalf Orchard Street to Bank of Kuwait (£40m), 51 Eastcheap, EC3 on behalf of Cerberus to WeWork (£50m) and 110-114 Middlesex Street, E1 on behalf of DTZinvestors to Seaforth Land (£36m).

• At Allsop Chris is involved with a number of the teams’ current sales including Palace House, SE1 (£55m) on behalf of Schroders and Epworth House (£78m) on behalf of London and Regional and is becoming more heavily involved in development consultancy work with the aim of generating a future pipeline of work for the business.

Scott began his career at Savills in 1990. He joined the Investment Department in 1993 and was invited to the Savills Commercial Board in 2004 becoming Head of Investment in the West End London office.

Scott joined Allsop from Savills in May 2007 accepting the position of Equity Partner. He became Managing Partner of the Commercial Division in 2014 and as of April 2016 became Senior Partner of Allsop. Scott continues to play a day to day role in the National Investment Department with the view to winning and growing more investment business.


• Investment sales specialist

• Overall strategy and running of the Allsop LLP business

Recent Projects

42-43 Great Marlborough Street, W1Prime Retail and Office Building – 13,000 sq ft acquired on behalf of a Hong Kong Investor for £13.88 million. After refurbishment and re-letting the asset value has been significantly increased.

3 St James’s Square, SW1Prime multi-let office building sold to a Hong Kong Private Family Office for £135 million.

Royal Scot Hotel, King’s Cross, WC1408-room, 3 Star Hotel acquired on the day the Brexit vote was passed, for a Hong Kong Listed Company for £70.3 million.

110 Cannon Place, EC4Prime office multi-let office building, with value add opportunities, bought on behalf of a Private Mainland Chinese Investor for £93 million.

Our clients

Brookfield

British Land

Derwent London

Blackstone

Legal & General

Aviva Investors

City of London Corporation

Citi Private Bank

Axa Investment Management

The London Stock Exchange

Aberdeen Standard Investments

WELPUT

Columbia Threadneedle

CBRE GI

LaSalle Investment Management

M&G Real Estate

YGM Asset Management

Tishman Speyer

London & Oriental

Whitbread

DTZ Investors

Workspace Plc

Lazari Investments

UK & European

Viridis Real Estate

Meyer Bergman

Blackrock

British Steel

Henderson

Kames

KFIM

Lone Star

London Metric

Akelius

Stonegate Homes

Hudson Advisors

London and Regional

NHS

Investec

Barratt Developments

Sports Direct

Grainger

Long Harbour

Quintain

Student Cribs

The Property Trust

Mizuho

Global Mutual

Schroders

Resolution

Angelo Gordon

Strawberry Star

Moorfield

Places For People

Shun Ho Group

Our client base includes some of the largest investors, developers and occupiers including:

Marsha RabinovichAssociateCommercial Investment

T: +44 (0)20 7588 4433E: [email protected]

London City Team

James AbrahamsPartnerCommercial Investment & Development


Matt MillmanPartnerCommercial Investment


Christopher RoomPartnerCommercial Investment


Peter LancePartnerOffice Leasing


James NevillePartnerOffice Leasing


Katherine BowenPartnerCommercial Valuations


Valuation Team

Edward DunninghamPartnerCommercial Valuations


Vik ShuklaPartnerCommercial Valuations


Martin KayeChief Executive OfficerMillennium Group

T: +852 2297 2206E: [email protected]

Elaine WuGeneral ManagerMillennium Group

T: +852 2297 2206E: [email protected]

Asia Office

Central London West End Team

Nick PembertonPartnerCommercial Investment & Development


Piers GloverPartnerAsset Management & Commercial Investment


Richard TownsendPartnerOffice Leasing


Mark IbbotsonAssociateCommercial Investment


Chloe NewtonAssociateCommercial Investment


Barney LewisPartnerOffice Leasing


Business Rates

Victoria BoatengPartnerBusiness Rates


Robert SherwillPartnerBusiness Rates


Key Contacts

OUR SERVICES

James AcockPartnerLease Consultancy


Richard BourchierPartnerLease Consultancy


Lease Consultancy Team

Andrew BoydPartnerResidential Investments and Developments


Residential Investment & Development Team

National Investment Team

Scott TylerSenior PartnerCommercial Investments


Dale JohnstonePartnerCommercial Investments


Lottie HaywardAssociateCommercial Investments


Jeremy HodgsonPartnerCommercial Investments


Lesley RobertsExecutive Director and PartnerLetting and Management & Build to Rent


Andy PointonPartnerNational Commercial Investment & Build to Rent


Build to Rent Team

Allsop LLP & Millennium Group Alliance

Central London West End TeamThe team is led by 4 Partners, covering leasing, investment, development and asset management in London’s West End Real Estate Market. Our Partners have a combined 100 years’ experience specialising in the West End sector, supported by a team of Associates and Surveyors. The Allsop West End team has been involved in over £350M / 5% of total volume in 2018.

SPECIALISMS• The West End team provides joined up leasing, investment

& development advice to deliver outperformance.

• We provide asset management advice to key clients.

INVESTMENT TEAM • Advised on over £1BN of real estate capital transactions in

the last 24 months.

• Office, retail and mixed use transactions including office to residential, and medical.

• With our experience and depth of relationships over half of our investment purchases are conducted and exercised off-market.

• Transactions range from £300M portfolios to small individual lot sizes.

• Our Asset Management Team offers comprehensive building business plan modelling in association with our lease consultancy and valuation teams.

• We provide development advice with a current advisory work pipeline of over £2BN.

LEASING TEAM • Advising on 500,000 sq ft of current acquisitions & disposals.

• Active instructions range from 1,000 sq ft upwards, predominantly offices.

• 80% of our work is for Landlords, including Legal & General, Aviva Investors Workspace Plc & The Howard de Walden Estate.

• Our current pipeline of Landlord work has a project value in excess of £4BN.

CLIENTS• Include: Aberdeen Standard Investments, WELPUT,

Legal & General, Columbia Threadneedle, M& G Real Estate Workspace Plc, Lazari Investments, Shun Ho Group & Citi Private Bank.

WHY ALLSOP?• We are a Partner-Led team.

• We have an in-depth working knowledge of London’s West End property market, our expertise encompasses both the investment & leasing markets, which allows us to provide clients with a joined up approach & to outperform.

• We are exceptionally creative in the way we approach transactions & uniquely professional in the way we conduct our business.

• We have unrivalled access to off-market opportunities.

Nick PembertonPartnerInvestment & Asset Management+44 (0)20 7543 [email protected]

Piers GloverPartnerAsset Management, Investment & Development+44 (0)20 7543 [email protected]

Richard TownsendPartnerLeasing

+44 (0)20 7543 [email protected]

Chloe NewtonAssociateInvestment


Mark IbbotsonAssociateInvestment


James PargeterConsultantInvestment


Harry TheakstonAssociateLeasing


Barney LewisPartnerLeasing


West End Investment & Development Team West End Leasing Team

Key Contacts and Transactions

One Neathouse Place, SW1• Freehold• 117,472 sq ft vacant

office and retail building• Planning consent for a

716-bed hotel• Purchaser: Private

European Hotelier• Client: Columbia

Threadneedle

111 Strand, WC2• Long leasehold• Multi-let 37,781 sq ft

office and retail building• Purchaser: Cording Group• Client: DTZ Investors

The Kensington Building & The Kensington Arcade, W8 • Freehold development

opportunity• 128,663 sq. ft. of offices

and shops on completion in 2021

• Purchaser: AshbyCapital• Client: Columbia

Threadneedle

31 Dover Street, W1• Freehold• Multi-let 10,000 sq ft• Office & retail building• Client Private Overseas

65-68 South Molton Street & 32 Brook Street, W1• Virtual Freehold• Multi-let 14,757 sq ft

office and retail building• Purchaser: Private

European• Client: Columbia

Threadneedle

13-17 Fitzroy Street, W1• Freehold• Single let off-market

investment acquisition• Refurbishment

opportunity• Client: Workspace Plc

INVESTMENT INVESTMENT INVESTMENT

INVESTMENT SALE: £175.00M


INVESTMENT SALE: c£200M

INVESTMENT PURCHASE: £22.35M


OFF-MARKET INVESTMENT PURCHASE: £98.50M

INVESTMENT INVESTMENT INVESTMENT


Palace House, 3 Cathedral Street, SE1• 44,905 sq ft• Freehold • Average unexpired term

of 12.75 years to expiry and 8 years to breaks

• Prime South bank freehold with asset management opportunities

• Client: Schroders

Central London City TeamThe team is led by 4 Equity Partners, covering leasing, investment, development and asset management in London’s City and City Fringe Real Estate Market. Our Partners have a combined 200 years’ experience specialising in the City sector, supported by a team of salaried Partners, Associates and Surveyors.

SPECIALISMSn The City team provides joined up leasing, investment

& development advice to outfperform.

n We provide asset management and development consultancy advice to key clients.

INVESTMENT TEAM n Advised on over £1.3BN of real estate capital transactions

in the last 12 months.

n Office, retail and mixed use transactions including hotels.

n With our experience and depth of relationships over half of our investment purchases are conducted and exercised off-market.

n Transactions range from £5M freehold investments to £280M trophy assets.

n Our Development Consultancy team currently have appointments of £6M+ sq ft over the next 5-years to deliver.

LEASING TEAM n Advising on 4,000,000 sq ft including development pipeline.

n Currently under offer on 225,000 sq ft of office accommodation.

n City Team has 175,000 sq ft of office accommodation currently available.

n 70% of our work is Landlord instructions, including Trilogy, The Estates Office, Max Barney Estates, London & Oriental, The Property Trust, DTZ Investors.

CLIENTSn Include: Legal & General, Estates Office, Broadridge,

Peel Hunt, BMO, Green Oak, Schroders, CCLA and London and Regional.

WHY ALLSOP?n We are a Partner-led team.

n We have an in-depth working knowledge of London’s City property market, our expertise encompasses both the investment & leasing markets, which allows us to provide clients with a joined up approach & to outperform.

n We are exceptionally creative in the way we approach transactions & uniquely professional in the way we conduct our business.

n We have unrivalled access to off-market opportunities.

City Investment & Development Team London City Leasing Team

Arnold, London, EC2• 75,000 sq ft • Refurbishment & extension

in Prime Shoreditch• Client: The Property Trust

DEVELOPMENT CONSULTANCY & OFFICE LEASING

Alphabeta, Finsbury Square, EC2• Freehold• 244,661 sq ft multi-let

office & retail investment• Average unexpired term

of 11.5 years• Client: Resolution

INVESTMENT PURCHASE, OFFICE LEASING AND INVESTMENT SALE: £280M

Principal Place, London, EC2• 600,000 sq ft

development by Brookfield• Pre-let to Amazon• Client: Brookfield

DEVELOPMENT CONSULTANCY AND OFFICE LEASING

INVESTMENT AND OFFICE LEASING DEVELOPMENT CONSULTANCY & OFFICE LEASING

DEVELOPMENT CONSULTANCY & OFFICE LEASING

9 Prescot Street, E1• 96,948 sq ft• Freehold• Average unexpired term

of 3.6 to expires and 2.2 to breaks

• Significant asset management and refurbishment potential.

• Client:LaSalle Investment Management and Derwent London

INVESTMENT SALE: SOLD £53.5M (4.59%) £555PSF

INVESTMENT SOLD FEBRUARY 2019

INVESTMENT SALE: QUOTING £51.3M (4.80%) £1,142PSF

INVESTMENT UNDER OFFER

Ibex House, Minories, EC3• 191,144 sq ft• Freehold• Average unexpired term of

5.25 years to expiries and 2.98 years to breaks

• Highly reversionary with immediate active asset management opportunities

• Client: Harel & Clal

INVESTMENT SALE: SOLD £121.25M (5.21%) £654PSF

INVESTMENT EXCHANGED MARCH 2019


James AbrahamsPartnerInvestment & Development


Howard KauffmanConsultantCommercial Investment & Development +44 (0)20 7588 [email protected]

Jonathan RubackPartner Commercial Investment +44 (0)20 7588 [email protected]

Matthew MillmanPartner Investment +44 (0)20 7588 [email protected]

Christopher RoomPartner Investment +44 (0)20 7588 [email protected]

Peter LancePartner Office Leasing +44 (0)20 7588 [email protected]

James NevillePartner Office Leasing +44 (0)20 7588 [email protected]

James ProctorPartner Office Leasing +44 (0)20 7588 [email protected]

Scott TylerSenior Partner+44 (0)20 7543 [email protected]

Jeremy HodgsonPartner+44 (0)20 7543 [email protected]

Richard LeaAssociate+44 (0)20 7543 [email protected]

Dale JohnstonePartner+44 (0)20 7543 [email protected]

Lottie HaywardAssociate+44 (0)20 7543 [email protected]

James SalmonAssociate+44 (0)20 7543 [email protected]

Jonathan ButcherAssociate+44 (0)20 7543 [email protected]

Tom DalesAssociate+44 (0)20 7543 [email protected]

National Investment Team


Acute Portfolio, North London• Three attractive multi-let

office buildings.• Client: Workspace• Purchaser: Westbrook

Partners

NCP Car Park, Nottingham, NG1• Long Income Investment

let to NCP Car Parks for 21 years unexpired.

• Client: Staffordshire County Council

• Vendor: CP Co. 32 Limited

Project Royal• Portfolio of 45 pubs

located nationally• Client: Aprirose• Vendor: British Land

Kett House, Station Road, Cambridge• Prime 36,000 sq ft office• Let to Eversheds• Significant redevelopment

/ massing potential in medium term

• Client: Aviva Investors• Vendor: Kames Capital

Quantum Park, Manchester, M40• Prime multi-let industrial

/ trade counter terrace comprising four units totaling 45,387 sq ft.

• Let to 2 tenants at a total rent of £474,341 pa

• Client: Tilstone• Purchaser: LaSalle

Investment Management

107-143 Muswell Hill Road, London, N10• Prime freehold London

mixed use investment with development potential

• Comprising 6 retail units, a cinema and 19 flats totalling 41,805 sq ft

• Client: Nuveen Real Estate• Purchaser: DTZ Investors

INVESTMENT SALE £51.85M

INVESTMENT PURCHASE - £22.45M

INVESTMENT PURCHASE - £21.6M

INVESTMENT PURCHASE - c£130M

INVESTMENT SALE - £9.1M

INVESTMENT SALE - £21.8M

PORTFOLIO


National Investment TeamThe team is led by 5 Partners supported by a team of Associates and Surveyors with a combined 160 years’ experience. The team covers the entire UK outside of central London across all sectors – office, industrial, retail, retail warehousing and leisure / hotels.

SPECIALISMS• Sale & acquisition of a wide range of properties & portfolios

ranging from £2M to over £100M.

• Dedicated Private Client Team working within the National Team dealing in £2M to £10M lot sizes.

EXPERIENCE/TRACK RECORD• Over £1.1BN transacted in the last 2 years.

• Over the last 2 years approximately 10% of the investment portfolio market transacted by Allsop National Investment Team.

• In excess of 175 private treaty sales undertaken over the last 2 years.

CLIENTS• Include: Aviva Investors, Blackrock, British Land, British Steel,

CBRE GI, TH Real Estate, Kames, Lone Star, London Metric, M&G Real Estate, Aberdeen Standard Investments, Columbia Threadneedle, LaSalle Investment Management, Workspace Plc and XLB.

WHY ALLSOP?• We are a Partner-Led team.

• We have unrivalled access to off-market opportunities.

• In depth market knowledge offering clients the best advice on their property investments.

• Dealing with all sectors across all UK markets, we see an unequalled breadth of stock.

PORTFOLIO OFFICE INDUSTRIAL

ALTERNATIVE MIXED USEALTERNATIVE

Ed DunninghamPartner+44 (0)20 7543 [email protected]

Rob AustenPartner+44 (0)20 7344 [email protected]

Andrew HobanAssociate+44 (0)20 7543 [email protected]

Vik ShuklaPartner+44 (0)20 7543 [email protected]

Valuation Team


Central Saint Giles, London WC2• Valued for fund

acquisition purposes.• Multi-let landmark mixed

use office, retail and residential development.

• Extending to approx. 400,000 sft.

Tesco Site, Morning Lane, London E9• Valued for acquisition

purposes during 2016 in connection with a mixed use development of the site.

• Tesco supermarket and associated car parking for circa 250 cars.

Elixir House, London, NW10• Valued for loan

security purposes.• Detached, single

storey warehouse with three storey office accommodation.

• Extending to 77,400 sft.• The property is owner

occupied.

Principal Place, London E1• Ground Rent investment

valued for internal accounts purposes in January 2018.

• Comprises circa 600,000 sft office building.

• Amazon have leased approx. 430,000 sft.

Brixton Village and Market Row, Brixton• Valued for year-end

accounts purposes.• Two large indoor

market sites offering retail and restaurant accommodation.

• Let to a subsidiary of Groupe Geraud and operated as market space.

One Hyde Park, London SW1• Ground rent investment

valued for internal accounts purposes.

• One of London’s most exclusive residential schemes, completed in January 2011.

• Comprises 86 luxury apartments.

• Part of a mixed-use development extending to circa 350,000 sft.

OFFICE INDUSTRIAL RETAIL

GROUND RENT RESIDENTIAL

APPROX. VALUE £600M

APPROX. GROSS DEVELOPMENT VALUE OF £285M

APPROX. VALUE £13M

APPROX. VALUE £80M

APPROX. VALUE £35M

APPROX. VALUE £20M

MIXED USE

Valuation TeamThe team is led by 11 Partners with over 230 years of combined experience supported by a team of 22 Associates and Surveyors. The team covers central London and the entire UK.

SPECIALISMSWe value for a variety of purposes including:

• Loan security valuations for all major lenders into the UK market

• Valuations for financial accounting

• Portfolio Valuations

• Development appraisals

• Ground rents

• Mixed use / Build to rent / Student / HMO / specialist residential

• Tax

• Charities Act

• Expert Witness

EXPERIENCE / TRACK RECORD• Valued over £13BN in 2018

• UK wide coverage of all major asset classes, commercial, residential, alternatives.

• Value properties at all price levels, highest recent valuation £7BN.

CLIENTS• Include: UK lending banks and funders, Institutional Funds,

Private Equity Investors, Property Companies, Private High Net Worth Investors, Charities, Solicitors

WHY ALLSOP• We are a partner led team

• We work alongside our City, West End and National investment teams, some of the most creative and proactive in the UK market, providing our valuer’s with the best in depth market knowledge.

• We provide commercially minded market based opinions

• We are independent and are generally free from conflicts of interest

Richard BourchierPartner+44 (0)20 7543 [email protected]

James AcockPartner+44 (0)20 7543 [email protected]

John BanburyPartner+44 (0)20 7543 [email protected]

Central London Lease Consultancy Team


33 Gracechurch Street, EC3• 107,000 sq ft offices• Various rent reviews

and regears• Client Asia Based Investor

50 Curzon Street, W1• 3,000 sq ft retail• Rent Review &

Lease Renewal• Client: Private Investor

25 Golden Square, W1• 65,000 sq ft offices• Rent Review• Client: Columbia Pictures

(Sony Entertainment)

11 Chenies Street, W1• 60,000 sq ft offices• Rent Review• Client: Schroders

4 Carlton Gardens, SW1• 28,000 sq ft• Rent Review• Client: M&G Real Estate

99/121 Kensington High Street, W8• 98,000 sq ft offices• Rent Review• Client: Sony Music

RENT REVIEW RENT REVIEW RENT REVIEW

RENT REVIEW RENT REVIEW

OFFICE

RETAIL

OFFICE

OFFICE

OFFICE

OFFICE

LEASE RENEWAL & RENT REVIEW


Lease Consultancy TeamThe team is led by 3 Partners supported by 2 Surveyors. Our Partners have a combined 75 years’ experience.

SPECIALISMS• Central London office market

• Central London retail & leisure market

• South East industrial & office market

• Rent reviews

• Lease renewals

• Re-gears

• Dilapidations

EXPERIENCE/TRACK RECORD • Instructions range from £60,000 - £20,000,000

annual rent

• RICS Panel Arbitrator within the team

• Active instructions range from 2,000 sq ft to 85,000 sq ft

• Every instruction is serviced by a partner

CLIENTS• Include: City of London Corporation, BMO, Sony,

London Borough of Hackney, The Property Trust, XL Catlin, Aviva Investors, Capreon, Telefonica, CCLA, CBRE GI, Schroders, M&G Real Estate and UCity.

WHY ALLSOP?• Fundamental capability to deal with substantial complex

rent reviews for example Embankment Place, W1 (350,000 sq ft), 20 Gracechurch Street, EC3 (150,000 sq ft).

• Our research capabilities – we have strong relationships in the market and have a collaborative relationship with our West End and City leasing teams.

• Legal knowledge – a trusted understanding of valuation significant clauses.

• Analytical – following forensic analysis of the lease we combine our legal & market knowledge to formulate rational arguments to achieve client objectives.

Victoria BoatengPartner+44 (0)20 7543 [email protected]

Robert SherwillPartner+44 (0)20 7543 [email protected]

Business Rates Team

Please contact Victoria or Robert today for an informal discussion about how we can help you with reducing your rate liabilities.

Key Contacts and Case studies – completed & ongoing

• Client: Mitsui Fudosan/Stanhope

• Property: One Angel Court EC2, 316,00 sq ft office/retail development.

• Client: Mitsui Fudosan/Stanhope

• Property: White City Place W12, 931,000 sq ft office/retail redevelopment.

• Client: ABP London• Property: Royal Albert

Dock E16, 4.4M sq ft office/resi/retail business district.

• Client: Strawberry Star• Property: Sky Studios/

Gardens SW8, 161,000 sq ft office/resi development.

• Client: Stanhope/BBC/AIMCo/ Mitsui Fudosan

• Property: Television Centre W12, 1.45M sq ft office/resi/leisure development.

• Client: Edgware Capital• Property: Bang Bang

Oriental – Asian Foodhall London NW9

SAVINGS: £1.6M – REMOVED ALL RATING VOID COST

SAVINGS: £4M

SAVINGS: ONGOING

SAVINGS: ONGOING

SAVINGS: £1.6M

SAVINGS: £900,000+


Business RatesThe team is led by 2 Partners with over 60 year’s of experience and supported by Associates and Senior Surveyors.

WHAT ARE BUSINESS RATES?• A property tax payable

by property owners and occupiers

• The amount depends on the property’s “rateable value” which is based on the hypothetical annual market rent value

• Business rates are payable when the property is occupied, empty or undergoing redevelopment

SOME OF OUR CLIENTS• ABP London (RAD)

• Strawberry Star

• Mitsui Fudosan

• The Property Trust (HK)

• Hines

• Sony

• Columbia Threadneedle

• Aviva Investors

• BMO Global Asset Management

• City of London Corporation

• Alduwaliya – ADAM Asset Managment

We represent funds, high net worth individuals, property developers and property owners

HOW WE CAN HELP If your property is:

• Under refurbishment or redevelopment

• Not capable of occupation (i.e. asbestos/fire escape issues)

• Vacant - awaiting planning

What we can do:

• Seek removal of your liability

• Challenge historic liabilities - generation of a refund

• Where rateable value £0 has been achieved - ensure favourable date for re-entry to liability

• Mitigate your ongoing liability

Residential Investment and DevelopmentThe Residential Investment & Development team comprises more than 20 industry experts, with 220 years of shared experience with national and regional coverage from offices in London and Leeds including a specialist central London team.

SPECIALISMS• Investments - Disposal and acquisition of blocks of

flats, portfolios of flats and houses, HMOs and student accommodation (both as assets and corporately)

• Developments - Disposal and acquisition of land and buildings with / without planning, partially complete development sites, commercial buildings with development potential and development consultancy

EXPERIENCE/TRACK RECORD• Circa £400M transacted in 90 deals

• Largest deal £49M with 58% of transactions between £1M - £5M

CLIENTS• Clients in the last financial year include: Akelius,

Stonegate Homes, Hudson’s, CBRE GI, Aviva Investors, NHS, Investec, Barratt Developments, Sports Direct, Grainger, Long Harbour, Quintain, Student Cribs and various Receivers

WHY ALLSOP?• Co-ordinated joint marketing from both London and Leeds

teams to maximise national and regional exposure

• Unrivalled market knowledge supported by an extensive database of active investors

• Ability to offer private treaty with auction backstop

• Ability to act jointly with our commercial investment teams to add value from residential development / permitted development opportunities

• Close integration / liaison with our Build to Rent team

Andrew BoydPartner+44 (0)20 7344 [email protected]

Anthony HartPartner+44 (0)113 243 [email protected]

Adam KervenPartner+44 (0)20 7344 [email protected]

Michael LinanePartner+44 (0)20 7344 [email protected]

William ShoebothamPartner+44 (0)20 7344 [email protected]

James WilsonPartner+44 (0)113 236 [email protected]

Residential Investment and Development Team


Symons House, Aldgate, London E1• A prime freehold block

of 13 vacant flats (3 flats sold off on long leases)

202-203 Grange Road, Southwark, London SE1• Former light industrial

building with planning consent for 6 flats

Bolton Studios, Chelsea SW10• Sale of the remaining

11 units in a prime residential block

Digby Works, 130 Homerton High St, Hackney, London E9• A converted warehouse

comprising 18 flats and a childrens nursery with planning consent. Gross Yield 5.4%

George West House, Clapham, London SW4• A prime vacant office

building with prior approval to convert to 61 private residential units

Edith Grove, Chelsea, London SW10• A prime investment

building comprising 7 flats. Gross Yield 3.8%

SOLD £8.125M

SOLD £1.9M

SOLD CIRCA £12M

SOLD £11.2M

SOLD £18.6M

SOLD £4.15M


Build to RentTotal of 14 staff involved with BTR, derived from existing teams covering consultancy, agency and operations.

SPECIALISMS• Research

• Analysis and viability

• Valuation

• Lettings and management

• Development agency

• Investment agency

EXPERIENCE / TRACK RECORD• Appraised and advised on over £1.5BN potential

BTR developments across the UK

CLIENTS• Include: Home Group, Moorfield, Greystar,

Network Homes, Standard Life, Access Self Storage, Lincoln, Places for People, Godwin, Realstar and National Regional

WHY ALLSOP?• Clients are increasingly recognising our lead in the market

as a joined up team with expertise across commercial and residential in specialist BTR knowledge

Andy PointonPartner+44 (0)20 7543 [email protected]

Lesley RobertsPartner+44 (0)20 7344 [email protected]

Matt SmithHead of Mobilisation+44 (0)113 290 [email protected]

Kelly SmithHead of BTR Operations+44 (0)20 7344 [email protected]

Sam VeritySurveyor+44 (0)20 7344 [email protected]

Ciaran McGivneySurveyor+44 (0)20 7344 [email protected]

Build to Rent Team


Fabrik, Leeds• Role: Investment.• Scheme: 216 units

comprising a U-shaped buildings around a central courtyard.

• Construction expected to commence in Q2 2019.

The Forge, Newcastle• Role: Management.• Scheme: 283 premium

quality one, two & three bedroom build to rent units adjacent to the Stephenson Quarter in central Newcastle.

• The first true BTR scheme in Newcastle. Designed over three buildings and released in phases.

The Landmark, Derby• Role: Consultancy advice

and investment.• Scheme: 201 efficiently

designed apartments located over 17 storeys within what will be the tallest building in Derby.

• The preferred investor was selected in August 2018 and construction is expected to commence in Q3 2019.

Kent Street Baths, Birmingham• Role: Research,

consultancy and investment.

• Scheme: 406 apartments designed for renting, comprising four residential blocks surrounding a central amenity hub and courtyard gardens.

The Keel, Liverpool• Role: Consultancy and

valuation advice.• Scheme: 240 high quality

waterside build to rent apartments with on-site amenities and services.

• The first scale Build to Rent scheme delivered in the regions

The Trilogy, Manchester• Role: Consultancy and

management.• Scheme: 232 apartments

within three blocks.• Allsop have been

appointed as managing agent and are mobilising the site to ensure pre-lets and lease up achieve the investor’s aspirations.


allsop.co.uk

UK Offices:

Head office:33 Wigmore Street, London W1U 1BZTel: +44 (0)20 7437 6977 City office:2 Copthall Avenue, London EC2R 7DATel: +44 (0)20 7588 4433 Leeds office:8th Floor, Platform, New Station Street, Leeds LS1 4JBTel: +44 (0)113 236 6677

Brighton office:Princes House, 53-54 Queens Road, Brighton BN1 3XBTel: +44 (0)1273 322 013

Asia Office:

Hong Kong office:MillenniumLevel 16, The Hong Kong Club Building,3A Chater Road, Central, Hong KongTel: +852 2297 2206

Services

Asset Management

Acquisitions

Auctions

Build to Rent

Business Rates

Development Management

Investment (Sales & Acquisition)

Lease Consultancy

Letting and Management

Office Leasing (Central London)

Receivership

Valuation

millenniumgroup.net

www.allsop.co.uk

millennium group · 2019-10-17 · redevelopment of assets such as the king’s reach tower, se1...

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