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 that 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 only work with multi-let commercial property investments. There are good reasons for that.
They spread risk across tenants and tenant sectors. They comprise shorter leases that offer regular opportunities for increasing rent. Most of all, they have greater potential for higher returns than other property investments.
Multi-let assets have a higher potential for churn and lower value tenants per unit than single-let assets. Managed correctly, this mix of more moving parts mitigates risk and increases opportunity, but they are niche assets that require specialist management.
We only work with multi-let commercial property investments. There are good reasons for that.
They spread risk across tenants and tenant sectors. They comprise shorter leases that offer regular opportunities for increasing rent. Most of all, they have greater potential for higher returns than other property investments.
Multi-let assets have a higher potential for churn and lower value tenants per unit than single-let assets. Managed correctly, this mix of more moving parts mitigates risk and increases opportunity, but they are niche assets that require specialist management.
1
Dilligence
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 site 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
Dilligence
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 site 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
Average void in 2018 (reduced from 18.1& in 2015)
162
lease transactions between Jan 2016 and Dec 2017
162
(NY 6.75%) portfolio sale-price in 2018
18
unlevered investment return for the project
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 and recommended 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
Average void in 2018 (reduced from 18.1& in 2015)
162
lease transactions between Jan 2016 and Dec 2017
162
(NY 6.75%) portfolio sale-price in 2018
18
unlevered investment return for the project
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 and recommended 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.