15th September 2022

Martin’s Properties, a leading London property company operating across the South of England, today announces the acquisition of a Guildford office, Bishops Wharf, a multi-let Grade A office building, as it continues to reposition its portfolio and invest in affluent, accessible and successful towns and cities.

Bishops Wharf has been acquired from CBRE Investment Management. Located opposite Guildford Station, the Grade A offices have been recently completely refurbished with the entire building being awarded an EPC Rating of B. The acquisition was made from cash reserves as Martin’s Properties continue to recycle assets from their existing portfolio. While also investing and diversifying their portfolio across London and southern England.

Gary Sherwin, Head of Transactions, Martin’s Properties comments: “The acquisition of Bishops Wharf continues our focus of investing into town/city centre locations benefitting from significant investment and infrastructure improvements. Guildford is a core south-east location, providing excellent amenities and high street offer, in addition to excellent transport links. The location continues to attract many successful businesses.

Bishops Wharf is located directly opposite the mainline train station which is undergoing major refurbishment and in front of the improving public realm by the River Wey and Odeon Cinema, making it one of Guildford’s strongest office locations. This is supported by the fact that the building was 100% let up during Covid.”

Richard Bourne, Managing Director, Martin’s Properties comments: “Bishops Wharf has all the right property fundamentals and offers an attractive yield, AWULT and covenant mix during times of economic and political uncertainty as well as meeting our ESG requirements. It provides a great opportunity to utilise our in-house asset management skills to drive rents and generate strong performance for our shareholders.

 Despite the market headwinds, we continue with our strategy to invest across all sectors in affluent London and Southern England locations with good transport links and infrastructure. We currently have circa £70m of cash to deploy.”

Martin’s Properties were advised by JLL, and CBRE Investment Management were advised by Knight Frank.

For press enquiries please contact: Bronya Heaver, Bronya@rafikilondon.com. 07813 680 704