Over the past 21 years we have invested in over £3.4bn of assets across almost every real estate sector, a selection of which are below
Zeta at Cobalt Park, Newcastle
Zeta at Cobalt Park is a five storey 126,000 sqft modern office building, which comprises an energy efficient, environmentally sustainable office building without compromising the quality and efficiency of the office space. Located on Cobalt Business Park, Newcastle – the largest office park in the UK, comprising 1.7m sqft of modern accommodation and will provide 2.5 million sqft of accommodation when complete. The park has been developed by Highbridge Properties from 1996.
Moorfield purchased Zeta at Cobalt Park in joint venture with Highbridge Properties.
Shipping Building, The Old Vinyl Factory, Hayes – Sold
The Shipping Building in Hayes is a seven-story multi-let office building totalling 96,700 sq ft. Whilst the original structure dates back to the 1920s, the building was comprehensively refurbished in 2002 and was the former headquarters of EMI. Present tenants include SITA, SONOS and CHAMP Cargosystems (UK) Ltd. The Shipping Building forms part of The Old Vinyl Factory site and is now being extensively regenerated by U+I. Planning permission for this mixed-use £250m scheme was granted in 2013 and is set to transform the site with 630 new homes, 750,000 sq ft of commercial and leisure space. Hayes will benefit substantially from the introduction of Crossrail due for completion in 2018 and wider infrastructure and development, allowing the town to close the gap with the West London market. This investment has now been sold.
Atlantic Quay (Buildings 1,2 & 3), Glasgow – Partially Sold
Buildings 1, 2 and 3 Atlantic Quay comprise 280,000 sq ft of high quality modern office space built to a ‘Grade A’ specification. Atlantic Quay is a unique office complex providing an attractive working environment that fronts the River Clyde. It benefits from excellent access to Glasgow’s key public transport hubs with Central and Queen Street train stations located only a short walk. It is also just a short walk from Glasgow’s main shopping, leisure and entertainment districts and accessible to all major road, rail, air and bus links. MREFIII is working in association with Resonance Capital in realising the investment’s refurbishment and re-letting opportunities. AQ3 has now been sold.
Aurora, Ealing, West London – Sold
Aurora is a prominent Grade A head quarter building in the Ealing office core. The property was built in 1996 and comprises 51,943 sq ft over the ground and 4 upper floors, with a central atrium and 85 car parking spaces. Aurora is located approximately 8 miles west of central London in the Borough of Ealing. It has a desirable and vibrant metropolitan town centre benefitting from excellent road and rail communications which will continue to improve with the support of Crossrail. MREFIII is working in partnership with XLB Property to refurbish and re-launch the property. This investment has now been sold.
100 Barbirolli Square, Manchester – Sold
MREFIII and Oaktree Capital Management (Oaktree) acquired 100 Barbirolli Square in Manchester in July 2013. The investment is a joint venture between MREFIII with Moorfield as Asset Manager and Oaktree. The prestigious 140,000 sq ft Grade A office building is situated in the heart of Manchester City Centre and is let to DLA Piper, Ernst & Young and Addleshaw Goddard. The investment forms part of the Barbirolli Square development, a prime city centre landmark office scheme. Built in 1997, 100 Barbirolli Square comprises 135,000 sq ft office accommodation across large flexible floorplates throughout the ground and eight storeys. In addition there is a 5,200 sq ft restaurant at the lower ground floor and secure parking for 141 cars over three basement floors. This investment has now been sold.
Salisbury House, London – Sold
Salisbury House is a landmark Grade II listed building situated in a prime City location and at the very heart of London’s financial district provides a total of 236,369 sqft of office, retail and ancillary accommodation. The offices comprise 215,209 sqft and are arranged over lower ground, ground and seven upper floors. The retail units comprise 21,000 sqft and are arranged over lower ground and ground floors. The occupier base in respect of the offices is diverse with representation from the legal, financial and professional sectors, attracted by the prime location and the opportunity to secure flexible letting solutions. The location of Salisbury House is set to benefit from Crossrail, the east-west rail link that will cross Central London linking Reading in the west to Abbey Wood in the east. Crossrail will connect to Heathrow giving the City direct rail connection to Europe’s leading international airport in approximately 30 minutes and provide City to west end access in approximately 10 minutes. A brand new station is being constructed between, and accessed from, Moorgate and Liverpool Street stations. This investment has now been sold.
Towers, Manchester – Sold
The Towers is an urban business park in Didsbury South Manchester. The estate consists of 9 office buildings, totalling 290,000 sqft, set within 19 acres of landscaped parkland. Located only a short walk from Didsbury Village, The Towers location and abundance of surrounding amenities are key to its tenant appeal. The M56 is less than 2 miles away and the public transport links including Didsbury Metrolink, East Didsbury railway station and main bus station nearby further enhance the employer/ee appeal. During ownership Moorfield undertook an extensive refurbishment programme, an off market approach from Lone Star resulted in an early realisation of the business plan and sale of Towers.
Pinnacle, Leeds – Sold
West Riding House is a landmark 19 storey mixed use city centre building in Leeds. West Riding House was formally relaunched as Pinnacle following a £6.0m investment programme. Leeds is the principal commercial and financial centre of the north east of England. The property is located on a 1 acre site in the centre of Leeds’ prime retail and office core, situated in a strategic axis of the pedestrianised Albion Street, Bond Street and Commercial Street. The investment included 68,500 sqft prime retail space and 81,500 sq ft of offices, supported by a 440 multi-storey car park. In February 2015 an off market approach from Lone Star resulted in an early realisation of the business plan and sale of the investment.
Skypark, Glasgow – Sold
Skypark is a landmark urban business park in Glasgow. Glasgow is the biggest city in Scotland and the third largest in the UK. It has a population of c.630,000 and is at the centre of a catchment population of over 3m. Positioned strategically on the immediate periphery of Glasgow’s Central Core, Skypark has unrivalled connectivity to all forms of transport and is within a 10 minute walk of the city centre. Totalling c.550,000 sq ft, Skypark comprises six buildings providing a wide variety of office, storage and retail accommodation. Together with joint venture partner, Resonance Capital, Moorfield repositioned this asset to create a multi-let destination office location with extensive amenities. In February 2015 an off market approach from Lone Star resulted in an early realisation of the business plan and sale of the investment.
Brindleyplace, Birmingham – Sold
MREFII acquired the long leasehold interest in Brindleyplace in Birmingham, one of the best mixed-use developments in the UK, from the Brindleyplace Limited Partnership in July 2010. It was acquired in a joint venture with Hines Global REIT. Birmingham is the UK’s second city and Brindleyplace is its premier business location. The properties are located in the heart of Birmingham’s Convention Quarter, a 10 minute walk from the city’s main railway station, New Street Station. It is adjacent to the International Convention Centre, the world famous Symphony Hall and the National Indoor Arena. Brindleyplace is an award winning business and leisure destination and has set the standard for urban regeneration in the UK. In February 2015, an off market approach from Lone Star resulted in an early realisation of the business plan and sale of Brindleyplace.
Mitchells & Butlers, Birmingham – Sold
Acquired as a sale and leaseback, Mitchells & Butlers plc’s (M&B) headquarter is a Grade “A” specified office building, and an interlinked and separately accessed 120 bedroom hotel, from M&B on a sale and leaseback in January 2009. The property was built by M&B in 2003 and is located on Fleet Street in Birmingham. The premises consisted of the 95,000 sq ft office building which was rented back to M&B on a long lease for their continued occupation and the office building is constructed over 3 main floors, with 3 levels of basement car park. The hotel is over 4 levels with an entrance, reception desk and restaurant at ground floor. The basement car park provides 278 spaces. The hotel is operated by M&B under a franchise agreement with InterContinental Hotels Group, trading as a Holiday Inn Express. This asset has subsequently been sold.
Arundel Great Court, London WC2 – Sold
Moorfield Group acquired Arundel Great Court in a joint venture with Blackstone Real Estate Advisors. The building comprised 316,000 sq ft of offices and a 150 bed five star hotel on a 2.7 acre site. During Moorfield’s period of asset management, the lease with Arthur Anderson was renegotiated and in March 1999 Arthur Anderson signed five new 20 year ‘institutional’ leases together with an Agreement to Lease on a 36,000 sq ft building to be developed within the complex, along with a complete redesign of the front entrance to the building.
50 – 52 Regent Street, London – Sold
30,000 sq ft West End offices and retail in the heart of Piccadilly. This was acquired in a portfolio transaction and subsequently sold to a serviced offices operator.
19 – 26 Floral Street, London WC2 – Sold
60,000 sq ft West End office and retail space in Covent Garden, let to Royal Sun Alliance. This was acquired in a portfolio of assets from Royal Sun Alliance and subsequently sold to Derwent Valley.