Dunitz & Co. sourced this asset soon after Brexit. It was acquired from an open-ended fund with ‘calls for cash’ from investors as a reaction to Brexit.

Initially, Dunitz & Co. identified a willing seller; we then discovered a suitable property with the potential to add value through future redevelopment before introducing the property to a buyer.

Dunitz & Co. subsequently acted as acquiring agent in an off-market transaction on behalf of a publicly quoted property company.

Upon acquisition, the tenant had five years unexpired on its lease with a right to renew for 5, 10 or 15 years. Towards the end of the lease, the client negotiated a 5-year lease extension with the tenant.

Following the response to a pre-app scheme for 282 residential units which was presented to the London Borough of Haringey the owner was able to prepare a feasibility study indicating 310 residential units.

With 5 years unexpired on the lease and a feasibility study indicating 310 residential units, Dunitz & Co. was instructed to dispose of the asset. After a full marketing campaign and competitive bidding, a purchaser was identified, and the disposal was swiftly completed.

The potential to add value to this property was identified by Dunitz & Co. The property which was originally let on a lease with 17 years unexpired, was acquired by the company’s client in an off-market transaction.

Once acquired, the new owner agreed a lease surrender with the tenants and has subsequently achieved full planning permission for 248 co-living bedrooms along with residents amenity space. The development also includes co-working space and retail uses and will be arranged over 15 storeys and a basement totalling over 100,000 sq ft of accommodation including external space.

The Seedbed Centre, Rom Valley Retail Park and Snow & Rock situation on Davidson Way were all acquired within seven months of each other. Dunitz & Co. acted as acquiring agent on all three transitions all of which were conducted off-market.

Dunitz & Co. worked closely with its client to identify a site with potential for alternative use in an area that will see the positive effects of Crossrail. Once sourced, the three properties were acquired in three separate off-market transactions and now form a combined 6.83 acres.

Working closely with the council, the new owner has drawn up plans for approximately 900 residential units.

Water Lane Apartments was acquired by Dunitz & Co. on behalf of a FTSE 250 student REIT. The property comprises 153 studio rooms.

The asset was secured off-market due to Dunitz & Co’s relationship with the developer.

Although the billion-pound REIT has now been sold, Water Lane Apartments performed the best in terms of rental growth and occupancy compared to the REIT’s other assets throughout its ownership.