Consulco Capital Real Estate Limited ('CCRE') has completed the acquisition of the final two investments for its London retail property syndicate, Hermes Properties Limited.
Hermes now owns 10 retail and restaurant investments, situated in strong central London trading locations. London Director, David King, said "These acquisitions mark the end of the investment period and in 12 months, with almost £20 million purchased, we have hit all our targets. We will launch our second syndicate early next year."
Hermes has acquired 442 Kings Road, London SW10. The property was acquired for £1,115,000 and comprises a retail/restaurant unit let to Nicolas, the French wine merchant.
In Lewisham, south east London, Hermes has acquired a Tesco Metro store let for 15 years without break for £900,000. The properties provide a combined net initial yield of 6.0%.
Michael Elliott and Partners acted for Hermes on the Kings Road acquisition whilst Ereira Mendoza advised on the Lewisham property.
Source: Consulco Capital Real Estate Limited