• A well-timed opportunity to acquire a prime retail warehousing asset at a discounted price to reflect the uncertainties of the COVID pandemic.

• The asset measured 21,390 sq ft and was let to Halfords and Cotswold Outdoor for approximately 7 years. 

• The vendor, an Institutional Retail Fund, had received some investor redemptions and needed to make some fire sales to retain liquidity in the fund.

• The property was a prime asset that was fully let and with little to no asset management required.

• Rankeilour teamed up with a high-net worth family office to acquire the asset and provide the comfort the vendor required.

• The tenants traded extremely well during the pandemic. 

• Within two years of the acquisition, a purchaser was found and the property sold for £3.75m, reflecting a profit on cost of 55.4% having collected a yield on cost of 10.8% for the duration of the hold period. 

• The ungeared IRR was 30.7%.

*IRRs are stated before performance fees. All other associated fees are included.