Investments
Bradda Capital believe long term commercial real estate returns are driven by income and income growth.
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Our disciplined investment strategy therefore focuses on assets with the following core attributes:
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Favourable prospects of above average rental growth from relatively low sustainable rents
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Excellent or improving connectivity in large conurbations
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Imbalanced local supply dynamics
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High quality tenants with a growing purpose in today & tomorrow’s economies
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Clear alternative use value and development optionality
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Sub-institutional scale
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ESG targets:
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EPC rate D (100) or better
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An accountable day one commitment to improve EPC rating during ownership
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No assets in undefended flood zones 2 and 3
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Evidence-based assessment of low site contamination risk
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Selected Current Investments
Trinity Central, Birmingham
A prime "best in class" office building of 25,521 sq ft let to Beiersdorf UK, situated in Trinity Park, considered the UK's best connected out of town office park, purchased in January 2021 with a 10-year unbroken lease from March 2018 at £579,600pa (£22.95psf).
Clyde Gateway East Business Park
A heritable new industrial/warehouse of 28,017 sqft. let to Torishima Service Solutions Europe (“TSSE”), purchased in November 2020 with a 15-year lease from September 2019 with a tenant break in 2029 at £205,860pa (£7.35psf).
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Erith, London
Prime distribution warehouse of 35,000 sqft. with 0.72 acres of developable land. Purchased in 2010 with a lease to 2018 at £7.20psf. Short term lets to 2019. Planning consent obtained in September 2020 for a 59,000 sqft. warehouse with 13m eaves. Sold in April 2021 for over £8m.
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Team Valley, Newcastle
A refurbished late 1970’s industrial warehouse of 51,800sqft let to Thermodynamix Thermoforming Specialist Services Limited (“TDX”), purchased in November 2020 with a 12-year unbroken lease from 2019 at £250,000pa (£4.83psf).
Longbridge, Birmingham
A new Grade A freehold office of 21,624sqft. let to Barnett Waddingham LLP, purchased in November 2020 with a 15-year unbroken lease from April 2020 at £412,600pa (£19.25psf).
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Gemini Business Park, Warrington
A Freehold 1990’s distribution warehouse of 44,750sqft. let to DX Network Services Ltd, purchased in June 2020 with a 10-year lease from 2018 and tenant break in 2024 at £255,900 (£5.71psf).
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Selected Historical Investments
Gemini Business Park, Warrington
A Freehold 1990’s distribution warehouse of 44,750sqft. let to DX Network Services Ltd, purchased in June 2020 with a 10-year lease from 2018 and tenant break in 2024 at £255,900 p.a. (£5.71psf). Sold in 2024 with an unexpired lease of 4 years at £392,000 p.a. (£8.75psf).
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Retirement Villages Group Ltd, UK
Purchased the Retirement Villages Group (“RVG”) in 2005 with 3 villages and one in development totalling 535 Independent Living Units (“ILU”). Bought and developed a further 10 villages, adding care services & facilities, bringing ILU number to 1274 and 402 care beds. With a development pipeline of 7 sites, adding a 742 units and 160 care beds, RVG was sold in 2017 to AXA-IM Real Assets.
Fosse House, Tonbridge
Multi-let 1980’s office of 10,000 sqft with 63 car spaces plus 0.5 acres of developable land purchased 1998. Fully refurbished, dilapidations settled and land remediated. Let to Charity Bank and First Actuarial at £196,440 p.a. (£19.64psf) on leases expiring 2024 and 2025. Office and new car park sold in January 2021. The developable land was sold to Churchill Retirement Living in February 2020 subject to planning permission.
Unit 5310, Magna Park, Lutterworth
Freehold prime distribution warehouse of 122,231 sqft. let to P&O Ferrymasters Ltd and sub-let to Asda Stores Ltd, purchased in 2009 with 12 years unexpired lease of £610,000 p.a. (£4.99 psf). Sold in 2015.
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Mansfield Retail Park, Nottingham
A freehold retail warehouse of 37,955 sqft. let to B&Q purchased in 2010 with a lease expiring in January 2015 at a rent of £410,750 (£10.82 psf). Lease renewed with dilapidations settlement. Sold in 2022 with an AWULT of 13 years to Go Outdoors (secured to JD Sports Fashion plc), Carpetright and Topps Tiles at £536,712 (£13.98 psf).
South Gyle, Edinburgh
1970’s distribution warehouse of 30,050 sqft. let to UPS purchased in 2010 with a lease expiring in November 2014 at a rent of £175,000 (£5.83 psf). Lease renewed twice with dilapidations settlement. Sold in 2020 with an unexpired lease of 8 years at £210,350 p.a. (£7.00 psf).
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Chalegrove House, Haywards Heath
1980’s office of 10,841 sqft. with 40 car spaces let to L’Oreal to 2013, purchased in 2008. Fully refurbished on lease expiry and let to PNC Financial Services Ltd guaranteed by PNC Bank (USA) 15 years (2029). Break at year 10 renegotiated. Sold in 2020 with unexpired lease of 9 years at £245,000 p.a. (£22.6psf).
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Unit 5100, Crosspoint, Coventry
Freehold prime distribution warehouse of 126,570 sqft. let to TNT UK Ltd, purchased in 2008 with a lease until 2015 at £701,000 pa (£5.50 psf). Planning permission obtained for 20,000 sqft. extension. New lease to include the extension at a rental of £862,235 p.a. (£5.85 psf) until 2028, break option 2024. Construction managed with the tenant in situ. Sold in 2017.
