Real Estate

Regent Capital forward funded and redeveloped an 89,000 sq. ft. obsolete 1960s office tower in Sauchiehall Street, Glasgow,  to deliver a 210 bed hotel pre-let on a long lease to Premier Inn, together with ground floor retail.

The £27.5M project was completed on time and on budget.

The hotel is understood to be Premier Inn’s best performing hotel in the city of Glasgow, ideally located close to the city’s bus station, Queen St mainline rail station and adjacent Buchanan Galleries Shopping Centre. Premier Inn has selected this hotel as the only one outside London to pilot their “Premier Plus” rooms.

https://www.premierinn.com/gb/en/hotels/scotland/strathclyde/glasgow/glasgow-city-centre-buchanan-galleries.html

Regent Capital raised more than £50M of private equity for investment to forward fund the development of new distribution warehouses as part of the Eurocentral Partnerships’ regeneration of the former mining area of North Lanarkshire.

The project was delivered in close partnership between Regent Capital and Eurocentral Partnership, a joint venture between Scottish Enterprise and Muse, for the development of the sites to create employment at Eurocentral.

More than 19 acres of land were brought back into use for 375,000 sqft of warehouse space creating 300 jobs with employers such as Eddie Stobart Ltd, Amazon UK Ltd, Brewdog Plc, Notemachine and Burtonwood Switchgear.

As one of Scotland’s leading industrial and logistics hubs, Eurocentral has transformed over 650 acres of underutilised land in Lanarkshire to provide over seven million sq. ft. of prime commercial space, and thousands of jobs

https://www.musedevelopments.com/case-study/eurocentral-lanarkshire

Regent Capital funded The Circus and Department and is developing it with joint venture partner, Augur Group in collaboration with Liverpool City Council and Network Rail. The Circus encompasses 400,000 sq, ft. of the Grade Il listed Lewis’s Building and its retained iconic facade as well as the surrounding land, to deliver offices, retail, leisure and a hotel in the heart of the city, in conjunction with the expansion of Liverpool Central Station.

The development already includes a 126 room Adagio Hotel, 70,000 sq. ft. of Grade A refurbished offices over four floors with 50% already leased to the NHS and a 25,000 sq. ft. Pure Gym on the lower ground floor.

www.thedepartment-liverpool.co.uk
www.circusliverpool.co.uk

Regent Capital developed and funded the renovation and conversion of The Watson Building, part of the former Lewis’s department store. The building which  comprises 75,000 sq. ft. of Grade A, BREEAM “Very Good” modern office space, is let to a variety of tenants including Onward Homes, Learning Foundry, Reed In Partnership and Universally Speaking.

The development sits at the hub of a major new focus within Liverpool city centre, forming the gateway to the Knowledge Quarter, between Central and Liverpool Lime St stations.

The renovation and development was funded via a syndicate of private investors, on a speculative basis.

www.thewatsonbuildig.co.ukn

Regent Capital funded and developed 253,000 sq ft of business space at Spectrum Business Park with JV partner Hillford. Spectrum is a high-quality office development and business park in County Durham. With corporate, serviced, and virtual North East office space, and tenants including Northumbrian Water, Durham County Council, Believe Homes and Great Annual Savings.

Regent Capital raised 100% of the private equity funding to deliver the office park in partnership with the developer, Hillford. Regent has worked closely with Durham County Council and the Regional Development Agency and there are now in excess of 2,500 employees currently working at the park.

The development is now regarded as one of Durham County Council’s key Strategic Sites. Paul Wellstead, Regent’s developer lead is Chairman of Spectrum’s Business Networking and Events group, along with its sister group in nearby Peterlee. He is active in promoting the remaining available space and working with occupiers to
promote and grow their businesses as well as continuing to improve the transport, amenities, and environment at the business park and in the surrounding towns.

Spectrum Business Park has seen recent success with lettings of two entire buildings; Spectrum 4, which extends to 45,000 sq ft, let to Believe Housing, and Spectrum 7, extending to 47,000 sq ft, let to Great Annual Savings Group.

www.spectrumbusinesspark.co.uk

Regent Capital forward funded the conversion, renovation and extension of  a listed former Cooperative department store in the heart of Bradford. The x sq. ft. Grade A office building was pre-let to Provident Financial Plc. PWC are sub-tenants in the building.

The scheme involved bringing back into commercial use the disused former extension that was added during the 1960’s to an original 1930’s Co-Op store.

The building was most recently occupied by TJ Hughes and required significant external renovation and internal redevelopment to deliver a modern fit-for purpose office extension for Provident Financial.

The renovation has created highly specified Grade A office space, pre-let to Bradford based Provident Financial Plc. The works included the creation of a new 3rd floor and a roof terrace, in total around 40,000 sq ft of Grade A space. The design and build project started on site in April 2017 and completed in August 2018.

Regent’s Capital collaborated with the occupier to develop an optimal renovation of a dilapidated building and to source funding for delivery of the project in a limited timeframe.

Regent Capital and its partners worked closely with Provident Financial to secure a sale and lease-back of the property, with the conversion works being carried out to Provident’s requirements, enabling them to expand from their adjoining headquarters building.

Completion of the project continues the momentum of regeneration in the centre of Bradford and provides space for up to 400 employees. The funding structure encouraged private equity funding into the project, and enabled the development to be delivered at a rent which was economic to the tenants.

An innovative profit-sharing structure has also been employed to offer the tenant an opportunity to extend their lease and share in the uplift in value prior to sale by the landlord. This is embedded in the lease agreement to ensure that the landlord and tenant interest continue to aligned over the hold period.