Harrow the Hub

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PRS Residential Development

Substantial 63,000 sq ft building in heart of Harrow began life as the “First National House”, the head office of First National Bank and later GE Money.

After acquisition, initial plans were focused on conversion of office space into a hub for retail, education and recreation. However, further to new UK legislation, the project altered to best accommodate the needs of local community with 84 apartments completed on August 2016.

Aberdeen Asset Management acquired the finished product on completion for £31.3m.

Property Type Residential
Initial Cost £4.6m
Date Acquired Oct 2012
Subsequent Expenditure £11m
Date Sold Oct 2016
Exit Value £31.3m
Unlevered MM 1.95x
Unlevered IRR 31.3%

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With the ultra-high technology companies and candidates that we work with, the Tech Park’s location and its links to the world class Cranfield University are an important part of our own brand.

GEOFF COCKLE, DIRECTOR, VECTOR RECRUITMENT, TENANT OF CRANFIELD UNIVERSITY TECHNOLOGY PARK

Within our distributions and logistics division, we have undertaken a broad spectrum of investments, including acquiring let units as well as acquiring and re-fitting existing units

AKBAR SHEIKH, DIRECTOR OF SHEIKH HOLDINGS

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ZAYBA SHEIKH, PARTNER AT RUH DENTAL