Residential Investment Local Experts Global Reach

Residential Investment Local Experts Global Reach

Residential Investment Market The Private Rented Sector It is now widely recognised that the private rented sector has a crucial role to play in both the UK housing market and economy. Key drivers include: the creation of more single person households; the demands of the global economy in terms of workplace mobility; and a lack of affordability. The proportion of householders renting in the UK has doubled since 2001 to 18%. This is driven by the current under supply of new housing and the relative lack of affordability in the residential market. In addition to generation rent who lack the equity to enter the housing market, 50% of tenants are aged over 35. Accordingly, today s tenants are less transient and are often willing to pay a premium for a better quality of product. Jones Lang LaSalle sees a compelling opportunity to meet the demands of this more mature and discerning class of tenant, by creating a high quality, well designed and well managed rental proposition. In response to this, a new wave of investors has entered the market including overseas funds, housing associations and most recently domestic institutions. This has led to increased demand for existing stock, off plan blocks and the nascent Build to Rent sector. Our Expertise Jones Lang LaSalle is at the forefront of new investment fl ows into the residential market, leveraging our global platform to identify buyers in this increasingly international market place and identifying asset sales through our proven network of investors, developers and landowners in the UK residential sector. Our National Residential Investment team provides consultancy, disposal and acquisition advice on all aspects of residential investment. With up to the minute market data from our new homes sales and lettings teams we provide informed and innovative advice to a broad spectrum of clients in the sector. Our client and purchaser profi les include: Specialist PRS investors Property companies and specialist developers Overseas funds UK institutions House-builders Private offi ces and high net worth individuals Our team has a wealth of experience providing investment consultancy and brokerage in relation to the following: Private Rented Sector (PRS) investment Off plan and turnkey product Forward funding Build to Rent (B2R) Tenanted portfolios and blocks Freehold ground rent portfolios 2 Residential Investment

Case Studies 1 Skylines Central 2, Manchester Acted on behalf of the vendor to dispose of this iconic residential tower in Manchester. Comprises 129 apartments with a sky pool and gym on the 18th fl oor. Asking price of 20 million. Residential Investment 3

2 Forward Sale - Disposal: New Festival Quarter, London Acted on behalf of the vendor of this forward sale in Poplar. Comprises 45 new build apartments including 20 underground parking spaces. Achieved the purchase price of 12.8 million. 3 Disposal: Holland Place Chambers, London Acted on behalf of Grainger to dispose of this Prime Central London residential block located just off Kensington Church Street. Comprised a total of 14 apartments extending to a total of 9,091 sq ft (GIA). Achieved the purchase price of 10.1 million. 4 Aquisition: Parkside Portfolio, London Acted on behalf of London & Quadrant Housing Trust who acquired this income producing portfolio of 8 high quality assets located in highly sought after residential loctions throughout Central and West London. Comprises a total of 138 units and circa 111,000 sq ft. Purchase price of 56 million. 5 Disposal: Royal Mills, Ancoats Acted on behalf of ING to dispose of a portfolio of apartments located in the highly sought after Royal Mills conversion in Ancoats, Manchester. Comprises a total of 39, high specifi cation, fully let apartments. Achieved the purchase price of 5.3 million. 4 Residential Investment

6 Disposal: Merchant Square Acted on behalf of the Crown Estate to dispose of this prime residential investment located in one of London s most exciting regeneration areas, Paddington Basin. Comprises a total of 60 units with 60 secure underground parking spaces in this self-contained block. Achieved a sale price in excess of 47 million to a Malaysian investor. Residential Investment 5

7 Disposal: Keren Homes Limited, Birmingham Acted on behalf of Keren Homes Limited (in administration) in the disposal of a 4 block residential scheme and development plot. Phase one comprised a total of 68 apartments and 30 parking spaces producing a rent roll of c. 150,000 pa. Achieved the purchase price of 5.6 million. 8 Prime Central London - Disposal: 59-79 Stanhope Gardens, London Acted on behalf of FRIP to dispose of this Prime Central London investment opportunity. Comprises 70 high quality apartments including 10 underground parking spaces, totalling circa 73,500 sq ft (GIA). Achieved the purchase price of 93 million to a Malaysian investor. 9 Disposal: West Tower, Liverpool Acted on behalf of Grant Thornton / NAMA to dispose of this prestigious 40 storey tower block located in Liverpool city centre. Comprises 106 of the building s 123 units along with 12,500 sq ft of commercial space and the freehold of the building. Achieved the purchase price of 11.5 million. 10 Disposal: Hamlet Gardens Acted on behalf of a private client to dispose of the highly sought after Hamlet Gardens, a portfolio of 4 unmoderised mansion blocks in West London. Total of 123 freehold units, extending to circa 95,000 sq ft (GIA). Achieved the purchase price in excess of 40 million. 6 Residential Investment

11 Build to Rent - London 360, London Acted on behalf of Essential Living, who were selected as the preferred partner of the HCA. Comprises a 49 storey tower and adjacent terrace building, offering a mix of affordable, PRS and private residential accommodation. Amenities on site include a theatre and a Sky Amenity Zone on the top fl oors, known as The Hub. Residential Investment 7

Key contacts Investment: UK / London Tom Henry Head of PRS Investment +44 (0)20 7087 5545 tom.henry@eu.jll.com Toby Nicholson Associate Director +44 (0)20 7087 5154 toby.nicholson@eu.jll.com Robin Hutchison Associate Director +44 (0)20 7087 5152 robin.hutchison@eu.jll.com Hattie Tucker Senior Surveyor +44 (0)20 7087 5589 hattie.tucker@eu.jll.com Investment: Regions Stephen Hogg Lead Director - Manchester +44 (0)161 238 7402 stephen.hogg@eu.jll.com Guy Ackernley Director - Leeds +44 (0)113 205 3340 guy.ackernley@eu.jll.com Jason Hogg Director - Edinburgh +44 (0)131 301 6710 jason.hogg@eu.jll.com Michael Brough Director - Birmingham +44 (0)121 214 9980 michael.brough@eu.jll.com Paddy Sykes Director - Bristol +44 (0)117 928 1643 paddy.sykes@eu.jll.com Robert Hogarth Senior Surveyor - Manchester +44 (0)161 238 6253 robert.hogarth@eu.jll.com Development / Investment Executives Andrew Frost Lead Director - UK Residential +44 (0)20 7087 5566 andrew.frost@eu.jll.com Peter Murray Director +44 (0)20 7087 5530 peter.murray@eu.jll.com Tim Wright Director +44 (0)20 7087 5544 tim.wright@eu.jll.com Valuations Research Tom Barton Head of Valuations +44 (0)20 7087 5078 tom.barton@eu.jll.com John Coyle Director +44 (0)20 7852 4252 john.coyle@eu.jll.com Adam Challis Head of Residential Research +44 (0)20 7399 5324 adam.challis@eu.jll.com www.jll.co.uk/residential COPYRIGHT JONES LANG LASALLE IP, INC. 2013. This publication is the sole property of Jones Lang LaSalle IP, Inc. and must not be copied, reproduced or transmitted in any form or by any means, either in whole or in part, without the prior written consent of Jones Lang LaSalle IP, Inc. The information contained in this publication has been obtained from sources generally regarded to be reliable. However, no representation is made, or warranty given, in respect of the accuracy of this information. We would like to be informed of any inaccuracies so that we may correct them. Jones Lang does not accept any liability in negligence or otherwise for any loss or damage suffered by any party resulting from reliance on this publication.