West Ranga have considerable hands on experience of commercial property development and currently have appetite for opportunities.
Whilst we prefer to be active on a particular development project at any one time, we appreciate that this sector is opportunity, location or occupier led and have the capability and flexibility to ramp up our development exposure.
We would actively seek the following opportunities:
Pre-let or part pre-let development or refurbishments projects.
Investment properties with short expiry profiles with scope for refurbishment or redevelopment for alternative use.
Speculative development opportunities where extremely strong market fundamentals underwrite letting risk.
We would be delighted to consider any opportunity £2.5M - £25M GDV across all sectors
CURRENT DEVELOPMENT PROJECTS
26-32 Brunel Way, Thetford, Norfolk
EXTERNAL - BEFORE
EXTERNAL - AFTER
West Ranga purchased the Freehold interest in a vacant 36,464 sq ft industrial unit from Continental Tyres in December 2016.
With a strong knowledge of the local occupier market, the team simultaneously agreed an AFL and Lease with DSG Limited (Dixons Carphone Warehouse) for 10 years on FRI terms.
Managing and undertaking a significant refurbishment of the property, Practical Completion was delivered in July 2017.
Prior to PC the investment was sold to a private pension fund for a price reflecting a NIY of 6.00%.
The project delivered a profit on cost of 20.35%, ungeared IRR of 67.16% and Geared IRR of 181.70%.
INTERNAL - BEFORE
INTERNAL - AFTER
Dundee 26 Commercial Street Dundee DD1 3EJ 01382 201 964
Edinburgh 70 Cumberland Street Edinburgh EH3 6RE 0131 315 0382