M7 Sells Pennywell Road, Bristol for Housing

19 September 2018

London, 19 September 2018 - M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has recently sold a vacant industrial building of circa 89,652 sq ft in Bristol on behalf of a major financial fund. Pennywell Road was leased to Aviva who had not been in occupation for a number of years. A comprehensive surrender premium covering all liabilities was agreed by M7 who took vacant possession of the premises.

The units were awkward in configuration with limited circulation space, poor eaves height and a substantial mezzanine floor of mostly concrete construction. Any works to bring the units into a marketable state would have involved substantial expenditure that would not deliver the requisite rents. A marketing appraisal and asset management strategy was therefore undertaken which identified an alternative use as a residential development site delivering an enhanced value over its existing use as an industrial estate.

Following a very short marketing period a ‘Best Bids’ tender process was undertaken to identify a preferred purchaser and an unconditional sale was subsequently agreed with Investin PLC for £4.15m.

James Chasen, Asset Manager at M7 commented, “This sale, four months after taking vacant possession, demonstrates our ability to realise additional value through identifying a higher alternative use that had been missed previously on an effectively redundant building. We were delighted to have worked with Investin PLC to help deliver an important housing site for this area of Bristol.”

M7 was represented by Russell Property Consultants and Knight Frank.

M7 acquires long let Eddie Stobart distribution warehouse asset at a 10% net initial yield

16 October 2018

London, 16 October 2018 - M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has acquired, on behalf of M7 Real Estate Investment Partners VI (“M7 REIP VI” or the “Fund”), five adjacent warehouse units let on a long term lease to Eddie Stobart Ltd (”Eddie Stobart”) in Workington, Cumbria for £6.295 million, representing a net initial yield of 10% and a capital value per sq ft of £13.22. The asset has been acquired from.the Stobart Group. read more

M7 increases co-operation with Maskun Kalustetalo Ltd and is now fully let in Porvoo

1 October 2018

Helsinki, 1 October 2018 - M7 Real Estate (“M7”), the pan-European real estate investor and asset manager has, on behalf of M7 Real Estate European Investments Partners IV fund (“M7 EREIP IV”), signed a lease for 1,301 sq m of retail space with Maskun Kalustetalo Ltd (“Masku”) at Ratsumestarinkatu 5, Porvoo. M7 and Masku have previously co-operated when Masku opened a large store in Mäkikuumolantie 3, Hyvinkää earlier this year. read more

Welsh industrial unit rises like a phoenix from the ashes

25 September 2018

London, 25 September 2018 – M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has sold 49 Hirwaun Industrial Estate in Rhondda Cyon Taff, Wales, on behalf of M7 Real Estate Investment Holdings for £1 million. read more