20 June 2012
Property specialists Custodian Capital acquire Bath property let to Prezzo plc
Custodian Capital, which is part of the Mattioli Woods plc group of companies, is funding the redevelopment of a historic property in the City of Bath.
The Bluecoat House property is located in a prominent area within the heart of Bath, connecting the central retail high street to the town’s leisure facilities and is directly opposite the Theatre Royal. The property will provide a restaurant on three floors.
Custodian Capital will purchase the £1.9m property for a syndicate of investors and will benefit from the initial rent per annum of £122,500. Distributions will commence in 2015 with an estimated net annual income of 5.65%.
Richard Shepherd-Cross, Managing Director of Custodian Capital, commented: “We are pleased to have added this prime property to our portfolio. The property is well located in one of the most popular tourist destinations in the UK and is let to strong tenants, which is key for Custodian’s investors.”
“Saw Close in particular has the potential for further rental growth due to the arrival of other high-profile tenants and a comprehensive development plan to provide a pedestrian piazza and a casino or hotel” he added.
The Bath property follows the completion of the funding of a property partnership in Kilmarnock, Scotland, where investors raised over £1.7 million and is part of a nationwide portfolio of syndicated property investments of £115 million, acquired over the last nine years, comprising 60 assets.
Prospective investors who are interested in this investment model must seek their own independent financial advice from an appropriate adviser who is authorised and regulated by the Financial Services Authority.
For information on this investment, please click here.
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