Case Studies

Property letting, sales and investment case studies - BNP Paribas Real Estate UK  


£50m investment acquisition of a premier South East leisure scheme
The purchase of a prime South East leisure scheme anchored by an Odeon Cinema, David Lloyd Health Club, bowling and restaurants.

  • Location Kingston upon Thames
  • Key figures £50.7m, 170,000 sq ft, net initial yield of 6.47%, rent roll of £3.3m per year
  • Contact Paul Griffiths, 020 7338 4266


The results

  • The client achieved its objective of investing £50m in a prime leisure scheme.  The Rotunda is fully let to tenants including Odeon, David Lloyd Fitness and Pizza Express and produces a rental income of £3.3m a year.

The challenges

  • Ignis Real Estate had a requirement to buy a prime leisure investment. It was under pressure to conclude the Rotunda deal within a short timescale and, through negotiation, we were able to agree a longer timescale for completion acceptable to both parties.

What we did

  • We identified the Rotunda property in 2010 when the property was put on the market at a price which reflected a yield of 6%
  • We then closely monitored the price for a period of 9 months, the price became more attractive, and a proposal was made and terms agreed
  • Our building consultancy team carried out a building survey to ensure the property was free from defects
  • We advised on the future development potential and change of use by carrying out an independent planning review of the scheme
  • We analysed the property, working with our specialist leisure team, including our cinema specialists and pub and restaurant team. We also worked with our retail agency team to establish other potential restaurant occupiers who would be interested in taking space in the scheme.
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