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OUR RECENT PROJECTS
SOME RECENT HIGHLIGHTS
Artus & Truelove have completed many commercial property projects over the years.
Here are some highlights shown below
Please just click on any property to find more about what we did
Brixton London SW9
Blue Star House, 234-244 Stockwell Road, Brixton London SW9 9SP
53,600sf 11 storey 1960s built office building in the centre of Brixton.
12,500sf leisure and retail on GF.
41,100sf offices on upper 10 floors.
1 FH title.
27 tenancies.
Rental Income £765,722pa.
Sale Price £38,100,000.
Brief
Regularised existing tenancies and put in place a lease strategy to allow for redevelopment.
Working with Lifschutz Davidson Sandilands to submit pre-app to L B Lambeth for 120,000sf office led redevelopment.
Marketed and sold to Derwent London with the benefit of positive response to pre-app from L B Lambeth but unconditional on planning,
Ealing, London W5
23-38 High Street and 15-19 New Broadway Ealing London W5
Site with development potential extending to approx. 1 acre in Central Ealing.
13 retail units and public house comprising 34,246sf.
Vacant, disused office space on High Street upper floors comprising 23,713sf.
61 car parking spaces.
15 separate FH titles.
13 tenancies.
Rental Income £627,333pa.
Sale Price £19,800,000.
Brief
Some tenancies were not contracted out of the 1954 Act or were holding over and so had acquired 1954 Act rights. Tenancies regularised to secure income and allow for redevelopment potential.
Permitted Development Rights secured for vacant offices.
Office and residential redevelopment options worked up.
Marketed and sold, unconditionally (on planning).
Worthing, West Sussex
The Guildbourne Centre, Worthing, West Sussex BN11 1LZ
Built in 1974 in Central Worthing, a covered shopping centre including a 6-storey office. building and 2, 3-storey residential blocks.
Approx. 100,000sf retail/mall.
Approx. 36,500sf offices.
35 residential flats.
20 car parking spaces.
Held on 2 long-leasehold titles.
86 tenancies.
Rental Income approx. £975,000pa.
Brief
Dealt with significant arrears and vacancy issues in shopping mall.
Managed lease strategy to exclude all small shop tenancies from 1954 Act security of tenure provisions.
The vacant and derelict first floor of mall was refurbished to create co-working space, auditorium and local community uses. Fully let.
Promoted shopping mall and increased footfall through social media, local networking, branding, advertising, and tenant liaison.
Explored alternative uses for office building.
Sought to renegotiate headlease terms with Freeholder.
Managed extensive external maintenance issues.
Following Administration of Wilko, negotiated assignment of lease to B & M Stores with no loss of rent.
Camden Town, London NW1
126-138 High Street and 7-10 Greenland Street, Camden, London NW1
Comprising 3 linked buildings of significant architectural merit dating from1893.
Retail frontage to Camden High Street and offices along Greenland Street and on upper floors with additional residential accommodation.
Shared rear service yard accessible from Bayham Street.
Approx. 19,000sf retail.
Approx. 30,000sf offices.
Approx. 2,650sf residential.
Close to Camden Town Underground station.
2 FH titles.
15 tenancies.
Rental Income approx. £1,194,600pa.
Brief
A major exercise to regularise leases with many either having not been properly contracted out of the 1954 Act or having acquired 1954 Act rights by holding over. Lease strategy implemented to create the option for vacant possession to realise redevelopment potential.
Many aspects of the building were not compliant and so full risk assessment was undertaken and compliance measures put in place.
Maintenance had been neglected and so a full planned preventative maintenance program was put in place.
Proper management structure implemented including review of service charge schedules.
Created a double retail unit to replace Waterstones and Poundland shops with single letting to T K Maxx.
Early surrender of non-trading Burger King unit negotiated, with significant reverse premium payment to Landlord, and following extensive reconfiguration and refurbishment, new letting agreed with bagel bakery/delicatessen.
Redevelopment options investigated and Pre-App submitted to L B Camden.
Teddington, Middlesex
Harlequin House, 7 High Street, Teddington TW11 8EE
6-storey office building constructed circa 1984 in Central Teddington.
Approx 21,000sf.
38 car parking spaces.
1 FH Title.
7 tenancies plus various parking licences.
Rental Income at Purchase £319,510pa.
Rental Income at Sale (37 months after purchase) £400,934pa.
Acquisition Price £3,655,000.
Sale Price (37 months after acquisition) £6,500,000.
Brief
Sourced and acquired the property for Client.
General asset management to review tenant mix and negotiate leases generally to maximize rental income ready for sale.
Refurbishment of vacant units and entrance foyer/common parts to raise profile and maximise rental potential ready for sale.
Marketed and sold the property.
Croydon, Surrey
12-20 Crown Hill Croydon CR0 1RZ
2 linked properties comprising retail, leisure and vacant residential accommodation.
Total area of approx. 27,859sf.
1 FH title.
2 leases.
Rental Income £349,500pa.
Acquisition Price £3,850,000
Sale Price (39 months after acquisition) £5,800,000.
Brief
Sourced and acquired the property for Client.
Identified significant marriage value by selling with adjoining ownership.
Negotiated joint sale and price apportionment agreement with adjoining owner.
Marketed and sold the property jointly with adjoining owner.
Bar Lane Industrial Estate, Nottingham
Bar Lane, Nottingham NG6 0JA
Established industrial park of circa 8-acres close to Nottingham City Centre.
Buildings of a variety of styles and ages but originally dating from the 1900s including traditional brick buildings with northlit roofing.
Approx. 113,000sf of industrial accommodation.
1 FH title.
31 Tenancies.
Rental Income £319,000pa.
Sale Price £2,650,000.
Brief
Many issues with tenancies not properly contracted out of the 1954 Act and holding over to acquire 1954 Act protection. Tenancy order required before sale contemplated.
Significant arrears managed and prepared for sale.
Effective management structure put in place.
All redevelopment angles investigated, and pre-app submitted to Nottingham City Council.
To prepare for sale, surveys and reports commissioned for ground investigations (phase 1 and 2), asbestos, mining, chancel repair liability, environmental and flooding, energy and infrastructure, drainage, and highways.
Marketed and sold, unconditionally (on planning).
Peascod Street, Windsor
47-50 Peascod Street, Windsor SL4 1DE
Mixed-use town centre investment of approx. 4,798sf.
Comprising 4 ground floor shops, first floor office and 3 second floor residential flats.
1 FH title.
8 tenancies.
Rental Income £171,146pa.
Sale Price £2,250,000.
Brief
Maximise value and marketability ready for sale.
Regularised retail tenancies to deal with significant arrears and 1954 Act contracting out issues.
Negotiated a reversionary lease for office increasing rent from £44,000pa to £50,105pa with annual RPI increases.
Refurbished and re-let 3 flats on Assured Shorthold Tenancies.
Implemented essential external maintenance to remedy long term roof and water ingress problems.
Active management increased the rent from £148,500pa to £171,146pa ready for sale.
Marketed and sold as joint auctioneer with Allsop LLP.
Jennings Yard, Windsor
River Street, Windsor SL4 1QP
Site of approx. 0.83 acres in central Windsor on the banks of the River Thames.
Comprising 135 space pay and display car park and small café of approx. 730sf.
1 FH title.
2 tenancies.
Rental income approx. £318,000.
Brief
Renegotiated leases with car park operator and café tenant to create development break options.
Investigated upgrading car park.
Investigated alternative uses and submitted a pre-app to Windsor and Maidenhead Borough Council.
Marketed the site on unconditional (of planning) basis. Not sold as price expectations not met.
Cannon Street, London EC4
Cannongate House, 62-64 Cannon Street, London EC4N 6AE
Prime Core City of London office investment.
Reconstructed behind a retained façade in 1980, a s storey corner office building.
Approx. 20,350sf comprising retail and medical on the ground and lower ground floors with offices above.
1 FH title.
10 leases.
Rent on Acquisition £838,343pa.
Price on Acquisition £7,000,000.
Price on Sale (170 days after acquisition) £9,550,000.
Brief
To source and acquire property at the best possible price and sell as quickly as possible to take account of favourable market conditions.
Marketed and sold with completion of sale taking place 170 days after completing acquisition.
Stow on the Wold
Wyck Hill, Stow-on-the-Wold, Gloucestershire
11.5 acre site near Stow-on-the-Wold.
5 dilapidated cottages on the site of former garden centre, pasture, and disused agricultural buildings.
Cottages site sold for £750,000.
Remainder of the site sold for £300,000 plus £425,000 when planning consent for dwelling granted.
Additional 20- year overage provisions agreed.
Brief
Site had not been managed for years and ad hoc residential tenancies in place with no rental income.
Lettings regularised with AST’s, rental income generated and management structure in place.
Planning consent obtained for redevelopment of cottages.
Pre-app response obtained for remainder of site accepting principle of building a dwelling of exceptional quality (para 80e).
Devonshire Street, London W1
London W1G 7AH
End terrace 6-storey period property in Medical District of approx. 3,000sf.
Established international medical tenant.
Rent at 2021 rent review increased from £180,000pa to £220,000pa.
Reversionary lease agreed with improved rent review assumptions (for Landlord) and upward only day 1 rent review.
Berwick Street, London W1
London W1F 0PX
Ground floor and basement restaurant with two floors of residential over on pedestrianised street in heart of Soho.
Acquired for Client, restaurant rent reviewed from £38,000pa to £80,000pa, planning position on upper floors improved and property sold for Client.
Wimbledon Village, London SW19
Faraday House, Thornton Road, Wimbledon London SW19 4NQ
Approx 3,200sf of offices forming part of Wimbledon Village Business Centre.
Significant marriage value identified by combining with adjoining ownership.
Sold to adjoining owner at auction to maximise value for Client.
Commercial Way, Woking, Surrey
Retail unit on 3 floors let to HSBC.
Periodic rent reviews carried out for Client and property sold at auction for £1.52Million.
Great Pulteney Street, London W1
London W1F 9NS
Ground floor and basement offices where tenant Client advised on rent reviews, lease renewal, dilapidations and exit by way of assignment.
High Street, Ascot, Berkshire
Ascot, Berkshire SL5 7HP
2 floor building fronting Ascot High Street and let to Knight Frank as residential sales and lettings office. Rent reviews negotiated for Landlord Client.
Pall Mall, London SW1
London SW1Y 5NP
Approx 7,400sf retail unit on Pall Mall with return frontage to Waterloo Place let to Farlows, leading suppliers of fishing tackle, and shooting and country clothing.
Acted for tenant Client advising on lease renewal and negotiating with The Crown Estate Commissioners.
Queen Anne Mews, London W1
London W1G 9HG
A leasehold terrace of 5 town houses in Marylebone close to the Harley Street Medical District. Regularised leases for long leasehold Client and managed the residential lettings.
Negotiated the sale of the leasehold interest (due to expire 2040) to the Freeholder for £4.35Million.
Sheen Road Richmond, Surrey
Lichfield Terrace, Sheen Road, Richmond, Surrey TW9 1AS
Parade of 17 shops on the edge of Richmond town centre.
Managed all shop leases on behalf of long leaseholder Client dealing with all rent reviews, lease renewals, lettings and liaison with shop tenants and Freeholder.
St Michael's Street, Oxford
Vanburgh House Hotel, St Michael’s Street, Oxford OX1 2EB
Boutique 21 room hotel in character buildings in centre of Oxford.
Acted for hotel operator negotiating rent review with Freeholder, Oxford City Council.
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