15
MKS /MAY2014
PORTFOLIO REVIEW
Acquisition: 1CrownSquare,Woking
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Purchased in January2014 for£6.00m
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Town centreofficebuilding (51,500 sq ft)
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Initial yield9.3% from lownet rentof
£0.59mpa (£11.60psf)
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Assetmanagement
–– Potential to improvenet income frombuilding
by renegotiatingaway from inclusive leasesand
reducing service charges
–– Increase rental value inbuilding
–– Workoncommonareas to improvebuildingoffer
–– Review refurbishment / redevelopmentpost lease
expiries in2018
–– ERVup12.4% to£0.76mpa
