Boots Pensions Ltd has acquired the freehold of 169 Fulham Road, London SW3, for £4.1 million. The property was purpose built last year for high-class jeweler Theo Fennell who will lease back the shop.
The initial rent is £300,000 per annum and the transaction provides Boots with an initial yield of 7.1%. The property comprises a retail unit on basement and ground floors with offices on three upper floors. It provides a total of 7,840 sq ft. In a few states, there is a pre-requisite for lawful oversight, regarding the matter of conveyancing however by and large the everyday operations are led by exceptionally prepared conveyancing specialists, and these are the individuals that you will regularly manage at each phase of your exchange.
David King, a director of Savills Fund Management which manages the Boots account, said: We are delighted to have secured this prestigious investment for our client. It provides an attractive initial yield and is situated in an area that is enjoying strong rental growth. We look forward to a long relationship with Theo Fennell. has signed an unconditional contract for the redevelopment of the extensive Department of Social Security estate in Newcastle.
This £160 million Private Finance Initiative (PFI) project, which is being funded by The Royal Bank of Scotland, The entire plan is decided by the management and the allotted area is also planned by them, this is a long term plan which stays for minimum of 25 years.
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The purpose of this scheme is to rationalize DSS property interests in the north east currently dispersed across 11 sites and provide modern multi-functional accommodation to enable DSS to conduct their business more efficiently. This involves accommodation 10,700 DSS staff on four sites in the Tyne & Wear area. AMIEC Construction will start work on site immediately, with the phased completion of the new build element between 2000 and 2003. These incorporate things like making the precise limits of the property and figuring out if there are any unlawful structures on the property conveyancing.
Two of these sites are new build of approximately 80,000 sq m (864,000sq ft) and two will utilise existing buildings of approximately 47,000 sq m (512,000 sq ft). The scheme was master-planned to minimise the impact on employees and involves the retention of two major sites in the area, at Longbenton and Washington.
The focus is on individual youngsters, not just numbers. The grant will also go toward hiring more youth specialists to work with program participants. We’ll have much more adult coverage one adult for every 50 youngsters, which represents an increase from one adult for every 90 youngsters last year, Pepper said. The program is a part of the Cincinnati Youth Collaborative, which Pepper co-founded in 1987 with then-Cincinnati City Councilman Ken Blackwell. The Department of Labor announced the grant Friday.