Off-market opportunity for CBRE Global Investors

Through our strong market knowledge of Bristol and proven track record, we frequently work with investment clients advising on acquisition, disposal, or other consultancy matters.  The following project was with CBRE Global Investors, who were looking to expand their leisure portfolio with a clear focus on delivering value.

Challenge
Established clients, CBRE Global Investors, are always keen to review and secure new investment opportunities.  Due to our strong grip on the retail and leisure market they had asked our Investment team to seek quality Bristol leisure investments to add to similar holdings in the city. Particular emphasis was given to targeting leisure investments where there are notable asset management angles to pursue in order to maximise value.

Solution
We became aware of an off market opportunity to purchase a multi-tenanted leisure building in a prime waterfront position in Bristol City Centre.  The property sat adjacent to another holding by the same client, which added to the appeal.  This was promptly introduced and the Investment team were asked to review all aspects of the opportunity in order for our client to consider.

As well as looking at the existing value, the Investment team in conjunction with our Leisure team carried out a full audit of the existing tenants, reviewing leases and considering opportunities to manage the asset to maximise value.  A full market review was completed, looking at active requirements and how these could be accommodated if there were future vacancies.

Changes of configuration and planning uses were reviewed with advice provided across all relevant sectors. Working across our Agency teams we were able to provide advice in the event of office or residential angles being pursued. Lastly, we considered the likelihood of securing changes to the planning consent in order to consider all future options.

Result
Once in receipt of our recommendations, CBRE GI instructed us to enter into negotiations to purchase and a price was agreed within the set parameters.  The purchase was managed meticulously to ensure it progressed smoothly, working closely with solicitors and tackling any issues that arose throughout the process.

The investment has since performed strongly and led to our client asking us to carry out a tenant audit across their adjoining holdings.  This has led to a series of re-gears and asset management initiatives on which we were delighted to assist.

 

James Woodard

Director

Bristol

0117 946 4502

Leisure | Retail

Email James

Need our help?

Whether you need agency, consultancy or asset management services we can provide a wide range of technical and commercial advice. For further details on our services get in touch.

Find out more