House, Sutton Surrey
In January 2002 the company acquired the freehold interest in a 20,000sq.ft.
(1,850m2) property in the London Borough of Sutton from Security Services
plc (formerly Securicor plc).
The property was the subject of a comprehensive refurbishment together
with a new extension of 3,500sq.ft. (325m2) at ground floor level. The
entire property was pre-let to Haliburton Brown & Root Ltd at a
rental of £330,000 per annum. On completion of the refurbishment
the property was valued at £3.5 million.
South Point and Sentinel House, Sutton Surrey
In January 2001 LS&E was involved in protracted negotiations resulting
in the corporate acquisition of two companies owning adjoining office
buildings in the London Borough of Sutton, known as South Point and
South Point is a property of some 72,000sq.ft. (6,700m2) on 17 floors
benefiting from 150 car parking spaces. LS&E arranged for the surrender
of the existing lease from a well known South American oil service company
and then pre-let the vacant property to Halliburton Brown & Root
Ltd. The building was the subject of a major refurbishment programme
and continues to be occupied by the tenant at a rental of £1.1
million per annum. The property was valued at £10 million.
Sentinel House is an office building of approximately 21,500sq.ft. (2,000m2)
with 50 car parking spaces. The building is let to the Secretary of
State at an annual rental of £140,000. The property was valued
at £1.5 million.
The 3 buildings were sold in August 2002 as an investment to Schroeder Asset Management for £14.75 million.
The Square, Market
In early 2000 LS&E acquired their first retail development opportunity
from the local Working Mens' Club at 9 The Square, Market Harborough.
Having moved the club and overseen the refurbishment of their new premises,
the company obtained vacant possession and a planning consent was achieved
to create three new retail units. The property was subsequently comprehensively
refurbished. On completion in early 2002, two retail units were let
at new record rents for Market Harborough. The 3rd unit was sold freehold
to an owner occupier. The resultant investment was sold at approximately
£1.4 million to a private family trust.
Street, London W8
October 1998 LS&E acquired a 12,500sq.ft. (1,160m2) office building
in Ansdell Street, Kensington, London W8, from Haymarket Publishing
Limited, a company controlled by Lord Heseltine.
A comprehensive refurbishment of the property was then carried out to
create modern open plan offices. The company disposed of its interest
in the property to a major organisation looking for a headquarters building
at a price of £2.2 million.
Georgian Hotel, Haslemere
In October 1997 the company acquired The Georgian Hotel in Haslemere,
Surrey, a Grade II listed building with 25 bedrooms and grounds of some
A planning application was submitted to create twenty residential units.
The application was declined and LS&E subsequently appealed.
This appeal was lost in 1998. The company then decided to return to
the original lawful use and enhanced the value of the property by obtaining
a new planning and listed building consent for a 43 bedroom hotel with
conference centre and leisure facilities. The property was subsequently
sold to a regional hotelier in October 1999 at a price of £1.5