Latest commercial property news from Lambert Smith Hampton

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LSH appointed managing agents on £70m nationwide property portfolio

25/06/2010

Martin Herbert

Asset management firm Roebuck Capital has appointed us sole managing agent for properties held within its Uddington Business Limited portfolio.

Having secured the initial contract to manage St Martin’s Square shopping centre in Leicester on behalf of Henderson Global Investors in 2003, we were retained by the previous asset managers when they acquired the property as part of a UK-wide portfolio in August 2008 for £69.8m.

In January 2010 Roebuck Capital Investment Limited became the new asset managers for the whole Uddington Business Limited portfolio.

Management role for entire Uddington Business Limited portfolio

We were subsequently appointed on the entire portfolio and are now responsible for all aspects of the daily management of a diverse mix of 17 retail, office and industrial assets, which includes the landmark St Martin’s Square shopping centre, a multi-tenant industrial estate in Wolverhampton, and a 70,967 sq ft industrial unit in Washington.

Maximising asset value

In addition to property management advice, including rent collection, lease administration, facilities and service charge management, we will also seek to capitalise on any potential asset management opportunities.

Nick Rhodes at Roebuck Capital said: “We have been extremely happy with LSH's management of St Martin’s Square shopping centre over the last two years. We also felt that LSH’s experience in managing diverse and complex commercial properties across the whole of the UK complemented our vision of enhancing and maximising the rental and capital value of the portfolio, so we had no hesitation in appointing them.”

National network key to proactive asset management

Martin Herbert, Director of Retail Agency in our Leicester office, said: ““The portfolio is spread across the UK, so our national network of offices will be invaluable in ensuring that the assets are pro-actively managed to maximise returns for the client, while hopefully generating a source of added-value service provision for LSH.”

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