Ikon Court, Great Cambridge Road Enfield
On the instruction of J. Gershinson a packman joint fixed charge of receivers, Christie + Co and joint agents Allsop LLP sold the commercial Investment/Development site of approximately 1.34 acres on the busy A10.
Station Road, Chesham Bucks
Acting on behalf of J.Greshinson and L. Brooks joint fixed charge receivers Christie + Co sold a parcel of land (approx 0.215 acres) in the market town of Chesham. Situated at the end of the Metropolitan line with hotel development potential to a local businessman.
East Midlands Airport Hotel
Acting as an advisor to Manchester Airport Group, Christie + Co secured Azure Properties, the hotel investment group, to a Radisson Blu hotel, which is to be developed at Manchester Airport Group, East Midlands Airport.
Sale of a hotel development site in Gillingham
Acting on behalf of Berkeley First, Christie + Co has sold a hotel development site in Gillingham, Kent, to Geminex Hotels & Leisure for an undisclosed sum. The proposed hotel will comprise approximately 120 bedrooms and will be operated as an Ibis hotel under a franchise agreement with Accor.
It will be positioned at the entrance to Berkeley First’s Victory Pier flagship scheme, which will include 800 private homes, 600 student residences, restaurants, bars, a supermarket, gym, crèche and offices.
Highwood Residential Ltd
Christie + Co was instructed to dispose of two development sites on behalf of Highwood Residential Ltd, a building contractor and developer specialising in residential and healthcare developments. The investment interest was sold to a private investor, subject to new leases with Southern Cross PLC, for a price representing a net initial yield of approximately 5.7%. The investor will forward-fund the development of the two care homes, comprising 150 purpose-built beds, in Andover and Gosport.
Four Pillars Hotel Group
RREEF Real Estate has acquired the Four Pillars Hotel Group. The deal, which was worth a reported £120 million, was brokered by Christie + Co on behalf of Four Pillars. The independent hotel group owns and operates five hotels in Oxfordshire and Gloucestershire. Under the terms of the acquisition agreement, Four Pillars Hotels’ founding director Brian Murtagh and existing CEO Charles Holmes will retain an equity position in the hotel group. In addition, a joint venture will be established between RREEF and the four original founding shareholders of Four Pillars to identify and build further sites which will be operated under the Four Pillars banner.
Christie + Co advises Moorfield Group on Macdonald Hotels acquisition
Christie + Co successfully advised Moorfield Group on the acquisition of 24 Macdonald Hotels. The portfolio, which was marketed subject to management contract with the Scottish hotel operator, has a total of 2,511 rooms and includes the nearly completed development of Phoenix House, the former Royal and Sun Alliance Building, in Bristol. The deal will see Moorfield Group take ownership of their second hotel portfolio in as many years. In March 2006, the UK-based private property company bought 40 hotels in a £110m sale and leaseback deal with WA Shearings.
Christie + Co acts for Gloucester Capital in the acquisition of the Portman Hotel
The four star 272-bedroom Portman Hotel was recently acquired by Gloucester Capital, a new company created for the transaction, for an undisclosed amount. Christie + Co advised Gloucester Capital on the acquisition of this leasehold property, which is one of London's most famous hotels. Radisson SAS will continue to operate the hotel and it is anticipated that an extensive refurbishment will be carried out.
Acquisition of the Folio Hotel, Glasgow
Christie + Co acquired the Folio Hotel in Glasgow from Washington Hotels on behalf of private investors for an undisclosed price. Until recently, the hotel was operated by Corus Hotels, before being sold to Washington Hotels. The 121-bedroom hotel, which is located in Glasgow's city centre on Argyle Street, was subsequently let to Folio Hotels on a 25-year lease. The hotel is due to undergo a substantial refurbishment programme over the next two years.
Sale of Cannon Capital Group Holdings
Christie + Co sold the entire share capital of Cannon Capital Group Holdings, a company which holds the freehold interest in 91 care homes. The freehold care homes, which are currently let to Ashbourne Healthcare and total approximately 4,500 beds, have been acquired by London & Regional Properties for £365.5 million. As the second largest healthcare sale of 2005, the deal was also the largest ever transacted by an agent in this sector.
The Brewery, Chiswell Street, London, sells for £55m
Christie + Co sold Whitbread's former HQ in the City of London, for £55m. A highly competitive marketing strategy and close teamwork resulted in over 20 bids, with the eventual sale being concluded within four months of instruction. The 250-year-old site incorporated “The Brewery”, a highly successful functions and banqueting suite, 120,000 sq ft of former office space (with planning for 118 serviced apartments) and a variety of investment and development properties in close proximity.
London Bridge Tower
In its role as letting agent for Europe’s tallest building and arguably its finest mixed-use development – London Tower Bridge – Christie + Co advised in leasing part of the building on behalf of Sellar Property Group to Shangri-La Hotels and Resorts for its first European hotel. The 195 room deluxe property, which is also the first new-build, 5 star hotel in central London in over a decade, will occupy floors 34 to 52 of the impressive 70-storey building known as the “Shard of Glass”.