We’re Locke Property.
We maximise investment returns from multi-let commercial property.
Our specialist expertise in the sector allows us to mitigate risk and maximise returns in ways that others cannot. If you’re an institutional investor or a local authority, we can do this for you.
We deliver outstanding results by ensuring every issue influencing investment performance is properly managed.
Our specialist expertise in the sector allows us to mitigate risk and maximise returns in ways that others cannot. If you’re an institutional investor or a local authority, we can do this for you.
We work with multi-let commercial property investments. There are good reasons for that.
Multi-let assets have a complex mix of moving parts that requires specialist management. They allow investors to spread risk more widely, provide more regular opportunities for value enhancement and can offer greater returns than single-let assets.
Without proper management, risk is increased. Our specialist expertise and experience ensure that is not the case, mitigating risk and optimising returns through informed, precise activity.
We work with multi-let commercial property investments. There are good reasons for that.
Multi-let assets have a complex mix of moving parts that requires specialist management. They allow investors to spread risk more widely, provide more regular opportunities for value enhancement and can offer greater returns than single-let assets.
Without proper management, risk is increased. Our specialist expertise and experience ensure that is not the case, mitigating risk and optimising returns through informed, precise activity.
1
Diligence
Identifying an opportunity for investment
Carrying out business and site research
Evaluating strategy, business plan and ROI
Closing a deal for the investment
2
Asset management
Managing the sites and stakeholder relationships
Optimising financial accounts and transactions
Marketing the property and ensuring marketability
Analysing the market and tracking compliance
3
Exit
Minimised void, costs and arrears
Improved efficiency, rent collection and compliance
Maximised rental growth and exit yield
1
Diligence
Identifying an opportunity for investment
Carrying out business and site research
Evaluating strategy, business plan and ROI
Closing a deal for the investment
2
Asset management
Managing the sites and stakeholder relationships
Optimising financial accounts and transactions
Marketing the property and ensuring marketability
Analysing the market and tracking compliance
3
Exit
Minimised void, costs and arrears
Improved efficiency, rent collection and compliance
Maximised rental growth and exit yield
The credentials
Client: Mansford
Project: Sterling Industrial
Duration: 2015-18
Area: 3.2 million sq ft
Assets: 32 estates, 469 lettable units
7.4
percent average void in 2018 (from 18.1% in 2015)
162
lease transactions in 24 months across 2016/17
162
million pounds (NIY 6.75%) 2018 portfolio sale-price
18
percent unlevered IRR
Background
Locke Property assisted Mansford in developing and managing Sterling Industrial, a portfolio of industrial estates across the UK with a wide range of industrial units.
Activity
We began by addressing cashflow issues, resolving rental arrears and payment issues to improve tenant communication. Accounting and transaction efficiency was improved. We tackled presentation, functionality and compliance issues at the properties, improving marketability and enhancing value. The development of a new brand, online presence and marketing literature increased awareness and demand for units.
As a result of improved site management, communications and financial processing, increased numbers of existing tenants renewed leases at expiry, whilst recommending the landlord to suppliers and contacts. Moreover, each unit commanded a higher rental price, so regular rent increases could be implemented at each lease event. The well-presented, well managed vehicle gave the investor robust options either for sale or for continued development.
The credentials
Client: Mansford
Project: Sterling Industrial
Duration: 2015-18
Area: 3.2 million sq ft
Assets: 32 estates, 469 lettable units
7.4
percent average void in 2018 (from 18.1% in 2015)
162
lease transactions in 24 months across 2016/17
162
million pounds (NIY 6.75%) 2018 portfolio sale-price
18
percent unlevered IRR
Background
Locke Property assisted Mansford in developing and managing Sterling Industrial, a portfolio of industrial estates across the UK with a wide range of industrial units.
Activity
We began by addressing cashflow issues, resolving rental arrears and payment issues to improve tenant communication. Accounting and transaction efficiency was improved. We tackled presentation, functionality and compliance issues at the properties, improving marketability and enhancing value. The development of a new brand, online presence and marketing literature increased awareness and demand for units.
As a result of improved site management, communications and financial processing, increased numbers of existing tenants renewed leases at expiry, whilst recommending the landlord to suppliers and contacts. Moreover, each unit commanded a higher rental price, so regular rent increases could be implemented at each lease event. The well-presented, well managed vehicle gave the investor robust options either for sale or for continued development.