SAPPHIRE PORTFOLIO, UK
National Industrial Portfolio
Acquired at year end 2013 out of Royal Bank of Scotland for £65m – a portfolio of 28 distressed industrial estates situated around the UK. Stainton has after 13 months managed out and sold on 22 of the 28 estates, all ahead of target and exit timetable.
Manton Wood Enterprise Park, Worksop A 110,000 sq ft industrial unit on the former Enterprise Park at Manotn Wood, Worksop. Vacant on purchase, Stainton let the property on a new 12 year lease to Greencore after completing a recovering of the existing roof. Sold on 3 years ahead of target exit timetable
Gillette Way, Reading
An unusual 11.5 acre site with a 200,000 old style industrial unit, acquired for £17m cash in March 2013 and sold 26 months later for £28.5m. Purchased with 15 months remaining on the lease, and a complex leasehold structure. Stainton managed it out with a new 10 year lease negotiated direct to DHL, and sold on well ahead of both its target exit price and exit timetable.
Chapel Quarter, Nottingham
A 144,000 sq ft leisure, hotel and office island building in the heart of Nottingham acquiredin 2011 for £18.775 million, for a 5-year holding period - sold after three years for £25.55m to British Airways Pension Fund. Upgrading, refurbishment of the common areas and conversion of void space into Grade A office led to a fully let building at sale.