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Case Studies

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

Joint Treasure

Asset purchase completed in 20 days delivering higher rental returns
We were instructed by Hong Kong based private equity firm, Joint Treasure, to make its debut purchase in the UK, with the acquisition of a trophy freehold asset in Mayfair at 10 Stratton Street.

  • Location 10 Stratton Street, London W1
  • Key figures 41,000 sq ft - Purchase price £60m - Yield of 4.47%
  • Contact Gregor Wallace, +44 (0) 20 7338 4230

 

The results

  • The client began it's property search in 2009 when the market was fragile, it was determined to invest in the UK due to the stability of the market place and the potential rental growth.

The challenge

  • The market was extremely competitive, with numerous assets having 10-15 bidders on each building.  The ability to succeed with it's acquisition was made more difficult.
  • The client had a lack of investment track record in the UK, and this made convincing the vendor to sell to BNPPRE more difficult as we had to begin by proving the client’s capabilities in the market place.

What we did

  • We carried out market analysis and researched the UK market, working closely with the client to help it to understand the market place in to which they were investing
  • We produced a target list of 15 assets, both on and off market that met it's requirements
  • We conducted a tour of these properties explaining the strengths and weaknesses of each, identifying a shortlist of viable options
  • We negotiated and provided due diligence on the tenant covenant, the quality of the building, the current rent and future rental growth prospects
  • Finally we used our influence with the selling agent to secure the deal.
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