Moorfield has entered into a joint venture with Allegra Care, a team with over 40 years’ experience within the care and retirement sectors. The joint venture will combine Allegra’s operational expertise with Moorfield’s investment and asset management oversight.

The joint venture is creating a portfolio in the south of the UK, targeting the creation of a portfolio of nursing homes that will be improved through capital expenditure and asset management.

In addition to material operational improvements, there are many real estate asset management opportunities across the portfolio, including: improvements to the cosmetic appearance, extending bed numbers, adding wet room ensuites and environmental efficiency improvements.

A joint venture with Storage King, the UK’s sixth largest operator of self-storage facilities, owned by Stor-Age, a South African REIT. This partnership provides an opportunity to work with an established operator, which has invested heavily into their digital and operational platform, to grow a flagship UK self-storage portfolio. The partnership is targeting the creation of a portfolio of high quality self-storage assets in and around Greater London and other highly populated conurbations.

The joint venture combines Stor-Age’s operational expertise, including their digital infrastructure, with Moorfield’s investment and asset management experience and oversight.

The current portfolio consists of both current trading assets and new build assets in locations including Heathrow, Canterbury, Bath, and Salisbury.

Wakmoor is a joint venture with We Are Kin, an existing specialist operator and investor in student Houses of Multiple Occupation (HMO).

This joint venture targets the creation of a portfolio of HMOs targeted at students and acquired across regional cities. This is an opportunity to capture a significant demand/supply gap in the market for good quality and good value student homes that are well designed and fitted out, tech enabled, and delivered with excellent levels of service and innovation. Most institutional investors have to date focussed on the Purpose Built Student Accommodation (PBSA) market that particularly targets international students. We also believe there is an opportunity to improve the offering for domestic students who typically live in HMOs.

A best-in-class 282-bed purpose-built student accommodation scheme in Colchester, home to the University of Essex.  The name chosen for the scheme is Enso, inspired by three key pillars of the experience it will offer students: wellbeing, sustainability, and security.

Planning was secured in Q2 2021, and development commenced in Q4 2021. Completion is planned for the summer of 2023, in time for the 2023/4 student intake. The project includes an ESG-linked development agreement with an incentive for the developer to achieve BREEAM Excellent.

Toybox is a brand new 290 bed campus style Domain student accommodation development located in a prime position in central Birmingham.  The Scheme comprises 151 studios and 139 en-suite cluster apartment rooms and includes extensive interior designed communal spaces.  The scheme opened in September 2019 and benefits include state of the art amenities including a fully equipped onsite gym and wellness studio, automated parcel lockers and ultrafast fibre optic wifi.

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.

Following a targeted marketing process, a sale was agreed with LCN and the asset was sold.

A dedicated industrial investment vehicle focused on creating a diversified portfolio of single-let logistic units. MLP’s first investment was a portfolio of three modern, institutional quality and well located logistics units, located in the Midlands and North of England (Rushden, Warrington and Deeside). At the time of ownership assets were let to a number of strong covenants including Next, Urban Outfitters and Mayr-Melnhof Packaging. Subsequently, MLP also acquired two further logistic units in Huddersfield, Yorkshire, let to Instore Ltd (Poundstretcher) and Council Borough of Kirklees. MLP has successfully sold all of the units within MLP.

A 305 bed Domain Student Accommodation development at Radford Street, Sheffield on a prime site, adjacent to the University of Sheffield. Sheffield is a robust student city, with a strong student accommodation market.  The University of Sheffield is a member of the Russell Group and was voted number 1 in the Times Higher Education Student Experience Awards for 2014-15.

The development was completed for the September 2016 term and comprises 130 bedrooms (in clusters of 3 to 6), 24 twodios (studios with a shared kitchen) and 151 studios, together with a range of communal facilities, all to best in class standards.
The scheme was delivered in conjunction with the Worthington Group, an experienced student accommodation developer / contractor and has since been sold.

Moorfield Audley Real Estate Fund (MAREF) is a real estate private equity fund with a single focus on the UK retirement sector. MAREF has successfully raised £285m of discretionary equity capital commitments to acquire Audley Court Limited – “Audley”, one of the UK’s leading retirement village developers and operators. Alongside Moorfield and Audley management, MAREF provides Audley with equity to be used to fund both the existing development programme and support the acquisition and development of new Audley retirement village sites and the expansion of the Mayfield mid-market brand. The investment has enabled Audley to double the size of its platform.

The Tramshed is a 315 bed Domain student development in the heart of Preston, adjacent to the University of Central Lancashire.

The interior designed scheme was completed in October 2017 and incorporates extensive amenities, including; gym, cafe area, quiet study area and leisure facilities. The Tramshed was sold in December 2018 following an unsolicited approach.

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. AQ1,2 & 3 have now been 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 worked in partnership with XLB Property to refurbish and re-launch the property. This investment has now been sold.

The landmark office complex has been transformed to create 240 luxury waterside rental apartments, which are fully occupied. Moorfield developed The Keel, in association with Glenbrook Property. The investment contributes to the ongoing rejuvenation of Liverpool’s waterfront, which has recently been transformed through the delivery of a world class Exhibition Centre and an upscale 216 bed Pullman hotel on the adjoining site. This investment has now been 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 at the time of ownership was 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.

The UK Logistics Fund (UKLF) was acquired in a 50/50 joint venture with SEGRO plc for £314m. The portfolio comprised 14 prime logistic warehouse units, plus 1 development site, totalling 4.35m sq ft, in 12 locations on, or near, main arterial roads in established distribution areas across the UK. Occupiers included Tesco, Sainsbury’s, Royal Mail, Booker and Exel UK. Two newly built units totalling c.950,000 sq ft were vacant on acquisition. Both Moorfield and Segro undertook strategic investment and asset management roles. The portfolio was re-launched with a new branding and marketing strategy as the Logistics Property Partnership (LPP). LPP sold 2 logistics assets in Avonmouth totalling 326,505 sq ft to the NFU Mutual. Following the successful letting of the two vacant units (c.950.000 sq ft) and the conclusion of a number of rent reviews c.975,000 sq ft) Segro acquired the remaining stake.

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.

Safestay was a start-up joint venture between Moorfield and Safeland Plc to develop a c.410 bed hostel in Elephant & Castle, London. The hostel opened in June 2012 trading under the name Safestay.

Moorfield sold its 80% stake following the successful IPO of the business which resulted in an early realisation of the business plan.

Skypark is a landmark urban business park in Glasgow. Glasgow is the biggest city in Scotland and the third largest in the UK. At acquisition it had a population of c.630,000 and 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.

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.

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.

This 1.3 acre site in Winchester formed part of the former Royal Hampshire Hospital site and was acquired by MREF for the development of a 400 room Domain student scheme. The development completed in September 2010 and is let to the University of Winchester. The asset is within 10 minutes walk of the town centre and is ideally situated being contiguous with the main university campus. The University of Winchester has over 5,500 students and the Queen’s Road Student Village is the largest private sector student accommodation scheme in the city.

In February 2015 an off-market approach from Lone Star resulted in an early realisation of the business plan and sale of the asset.

The Capitol Shopping Centre is located within the prime retail area of Cardiff.  The property is a freehold covered shopping centre with approximately 165,300 sqft of retail accommodation over 2 floors.  It was constructed in 1990 and underwent extensive refurbishment and redevelopment in 1998/1999.  Cardiff, as the capital city of Wales, is the principal retail and commercial centre for South Wales.

This investment has now been sold.

Heywood was acquired in June 2003 for £126.5m from Ropemaker Properties (BP Pension Fund) by Moorfield Group, Uberior Ventures Ltd (a subsidiary of Bank of Scotland) and Westbrook Partners Consortium. The Park had over 2.6m sq ft of industrial and distribution accommodation with units ranging from 3,500 sq ft up to a total of 600,000 sq ft. Major occupiers included Littlewoods, Argos, JD Sports Kuehne and Nagle and JD Williams. The site cover was very low at 35% and hence the capacity for an additional 1m sq ft vacant accommodation on acquisition was 255,169 sq ft in various unit sizes. New lettings of c.850,000 sq ft were achieved during the period of ownership. The letting of the Hub to Next Group was one of the largest lettings in the North West during 2005. Following major refurbishment projects Heywood was established as a main industrial park in the North West. Additional amenities were provided and a new masterplan for 1m sq ft of development was agreed with Rochdale Council.

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.

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.