Cara Investment Four Portfolio - Ashdown Phillips & Partners
Kaleidoscope, Lindsey Street, London
August 14, 2020

Cara Investment Four Portfolio

In early 2018, we were appointed by Clearbell on the management of their Cara Investment Four portfolio. The portfolio comprised of three industrial estates: Plantation Park, Knowsley Point and Poole Hall, along with two warehouses with offices at Kingsland Grange, Warrington. The portfolio comprised over 550,000 square feet of lettable space and had a combined service charge of £140,000.

The assets hadn’t been under the previous ownership for long and when our Client purchased them they were in desperate need of some TLC. The estate roads were in a state of disrepair, signage was sparse, the landscaping needed addressing, there were a number of leaking roofs at Plantation Park and the occupiers felt that they had no support. Our immediate priority was to establish relationships with the occupiers to address their concerns and issues.

A number of opportunities were identified across all of the properties, mostly around the management of the service charge and lack of engagement from the previous owners. As part of our due diligence process prior to acquisition we had identified the key issues and were therefore able to reassure all occupiers that we would approach the management differently and invest in their estates.

We worked with the Clearbell asset management team to replace the flat roofs at Plantation Park and assisted in lettings to improve the investment yields.

By having regular communication with the occupiers, we managed to create a community on each estate and developed a close relationship with the occupier at Kingsland Grange. We had plans to introduce charitable events and other occupier engagements, something we know would have worked well across the industrial estate during the summer of 2020 but, just as Covid hit, the properties were sold as part of a wider portfolio deal worth £120m.