Schroder Property Investment Management Limited
31 Gresham Street, London EC2V 7QA
Telephone +44 (0)20 7658 6000 Fax +44 (0)20 7658 3960
www.schroders.com
Press Release
Columbus Capital acquires leading London
Industrial Portfolio
5 August 2011
Columbus UK Real Estate Fund, advised by Columbus Capital Management LLP, has acquired the
entire property holdings of London industrial specialist Alycidon Investments Ltd. The purchase price of
approximately £15 million reflects an initial yield of 8.6% and a capital value of £65 per sq ft.
The portfolio consists of nine industrial estates in Greater London that extend to 225,000 sq ft. The
estates are located in Earlsfield, Wimbledon, St Albans, Woking, Crawley, Coulsdon, Thamesmead,
Mitcham and Croydon and are leased to 47 tenants. The passing rent is £5.85 per sq ft and the average
weighted unexpired lease term is just over 4 years.
The portfolio had a vacancy rate of approximately 15% but the largest unit at Thamesmead has already
been let at £130,000 per annum reducing the vacancy rate closer to just 5%.
Columbus Capital acquired the portfolio through a new joint venture with Astranta Asset Management
which is run by Graham Marsden and Mark Pendower, who were both shareholders of Alycidon
Investments Ltd. Astranta Asset Management will manage the properties, and source new properties for
the portfolio.
Joe Froud, Managing Partner of Columbus Capital Management, commented:
"Greater London industrial is a compelling investment proposition due to the combination of supply
constraints and potential for higher value alternative uses. We are planning to build a larger portfolio of
London and South East estates over the next 24 months and have set aside £50 million for further
acquisitions.”
Graham Marsden, Director at Astranta Asset Management added:
“I am very pleased to develop our holding with Columbus Capital in this under-appreciated sector
of the London market. It enables us to extend our holdings in well-located, secondary industrial
units, and apply long-term, consistent management from an experienced team that appreciates the
Schroders plc
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Schroder Property Investment Management Limited
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diverse needs of our occupiers. We continue to identify new opportunities for the joint venture in
this under-supplied sector.”
Strutt & Parker acted for Columbus Capital Management LLP and Santander provided a £20 million
senior debt facility to finance this portfolio as well as new acquisitions.
- ends Notes to Editors
For trade press only
For more Columbus and Schroders information contact:
Estelle Bibby, Institutional PR
+44(0) 20 7658 3431 / estelle.bibby@schroders.com
For more Astranta information contact:
Dan Innes, Innesco (PR)
+44 20 7409 3434 /dan.innes@innesco.co.uk / m. +44 7973 387 545
Columbus Capital Management LLP
Columbus Capital Management LLP (Columbus) is part of Schroders’ real estate investment and asset
management business. It is dedicated to executing value added real estate investment strategies with a
focus on the UK market. Columbus is the Investment Adviser to the Columbus UK Real Estate Fund, LP
(the Fund) which is the successor to the Gresham Funds. The sponsor of the Fund is Schroder Property
Investment Management Limited.
For further information about Columbus Capital Management LLP visit www.columbuscapital.co.uk
Schroder Property
Schroders has managed property funds since 1971 and has £9.6 billion (EUR 10.6 billion / US$15.3
billion) of gross property assets under management (at 30 June 2011) and has over 90 property staff
located in 9 offices across Europe.
All of the property funds referred to are unauthorised collective investment schemes as defined in the
Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full
information about these funds is only available to those exempt from the restriction.
For further information about Schroders’ property business visit www.schroderproperty.com
Astranta Asset Management
Astranta Asset Management co-invests or manages commercial property on behalf of investors to
provide secure income with the potential for capital growth. Astranta was formed in 2008 by Graham
Marsden, Mark Pendower, Nick Colvin, and Mark Ashton. www.astrantaam.co.uk
Schroders
Schroders is a global asset management company with £204.8 billion (EUR 26.7 billion/$328.7 billion)
under management as at 30 June 2011. Our clients are major financial institutions including pension
Schroders plc
Registered office at above address
Reg. 3909886 England
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Schroder Property Investment Management Limited
31 Gresham Street, London EC2V 7QA
Telephone 020 7658 6000 Fax 020 7658 3960
www.schroders.com
funds, banks and insurance companies, local and public authorities, governments, charities, high net
worth individuals and retail investors.
Further information about Schroders can be found at www.schroders.com or on Schroders Talking Point
www.schroders.com/talkingpoint. Schroder Property Investment Management Limited and Schroder
Investment Management Limited are authorised and regulated by the Financial Services Authority.
Issued by Schroder Property Investment Management Limited. Registration no. 1188240 England.
Schroders plc
Registered office at above address
Reg. 3909886 England
For your security, communications may be taped or monitored