Martin’s Properties today announces a trio of acquisitions, a development site on Abingdon Road in Didcot, Curtis Industrial Estate in Oxford and a retail unit in Wantage, for just over £12m in total.

The Didcot site offers significant potential for a variety of uses, the property company has received several offers for pre-lets from a range of occupiers. The 3.3 acre site on Abingdon Road was purchased from National Grid Property Holdings.  The 3.4 acre Curtis Lane industrial estate, provides industrial accommodation at a current average rent of approximately £5 psf, in a location of very limited supply. The estate was acquired from a private investor.

Richard Bourne, CEO of Martin’s Properties comments: “We have been patient with the deployment of our capital over the past 12 months – instead focussing on developing and managing our current £400m portfolio, which now has close to zero vacancy rate and rental income up from £16m to £18m. We are now looking to harness our firepower and availability of cash by deploying  a further £30m into development,and lending opportunities in strong locations across London and Southern England. 

Our highly skilled in-house team has an impressive track record for development and asset management.  Most recently, we have refurbished, reconfigured and extended our 25,000 sq ft retail units at 33 King’s Road. As part of our long term commitment to Chelsea and the King’s Road, the investment into these units has attracted exciting retail brands and new entrants to London and the UK.

We are actively looking for further opportunities and JV partners as we seek to meet our ambitious growth plans through investing in strategic investment and development sites as well as lending and sourcing, managing and developing assets for third parties.”

Gary Sherwin, Head of Transactions, Martin’s Properties comments: “The acquisitions in Oxfordshire, reflect our focus on growth locations with low supply. Curtis Industrial Estate in Oxford is situated in an edge of city location with easy access to A34. We have identified multiple options for enhancing the asset in the short and medium term. Didcot is a key location for our investment into affluent areas with good transport links and increasing housing. The site is close to the town centre and the train station, offering significant development potential for a variety of uses.”

The third acquisition is a strategic investment in Wantage, of a retail unit and service yard adjoining Martin’s Properties current Waitrose store. This further enhances the holdings and potential for a more comprehensive scheme in the long term.

Martin’s Properties’ total ownership of mixed use development and investment assets in Oxfordfordshirenow totals 12.75 acres with 176,420 sq ft and circa £42m of existing use value and a projected future development value in excess of £70m.

LSH acted for Martins Properties on the acquisition of Curtis Lane, Oxford and CBRE acted for the vendor.