Moredun LLP Portfolio
| Our client purchased the former LNC portfolio in 2005. The large single holding Norfolk House, Birmingham has been repositioned through a major facelift. Office rentals have subsequently risen from £10 to £16 per sq ft. The majority of the cost of the works has been re-covered through the service charge. To date 16 properties have been disposed of and there have been no price chips resulting from poor management or arrears issues. | |
| Property | Former LNC Portfolio |
| Client | Moredun LLP |
| Capital Value |
£62 million |
| Capital Value by Sector | Industrial 39%, Retail 6%, Offices 24%, Mixed 31% |
| Tenants | 171 |
| Geographical Spread | Plymouth to Aberdeen |
| Highest Single Service Charge | £450,000 pa |
| Rent Collection Rate |
96% within 7 days of the due date |
| Arrears on rent roll |
2% |
