The Albemarle Syndicates established by Geoff Egan, are a series of property investment partnerships investing in commercial property across the United Kingdom.
The first property partnership was established in 2001. The first property acquisition was made the following year. Since then, approximately £350 million has been invested across twenty syndicates. The investment strategy has been opportunity driven with the aim of optimising returns on capital over a period of up to five years.
Competitive fees and co-investment by the managing partners ensures a close alignment of interest. A solid relationship with a number of major banks and building societies has led to finance being available on attractive terms.
Investments are analysed with a view to structural efficiency and take into account the availability of capital allowances and other factors.
The Albemarle team believes there are always opportunities to out-perform the market and, with their successful track record to date, look forward to identifying and executing new transactions.
Egan Property Asset Management have sold 44-46 Sekforde Street, EC1 on behalf of private clients. The property sold in May 2015 in excess of the £6m asking price. There was a planning consent in place for an additional floor of 900 sq ft to be added to the existing 6,618 sq ft of office accommodation over LG, G and 3 upper floors.
Egan Property Asset Management sold 17-18 Hayward’s Place, EC1 on behalf of private clients for £8.5m reflecting a net initial yield of 3.98% in November 2014. We purchased the property in October 2008 for £2.7m and subsequently agreed a lease surrender with the long leaseholder to become the competent landlord to the subtenants. We refurbished the property for £500k, re geared leases with existing tenants or re let, obtained planning consent for a penthouse apartment, agreed a reciprocal rights of light agreement and purchased a right of way of the neighbouring land. We achieved record rents on the refurbished offices.
Egan Property Asset Management sold 1 Old Park Lane on behalf of private clients.
Egan Property Asset Management sold 1 Old Park Lane on behalf of private clients for £3.5m reflecting a net initial yield of 2.8% in November 2013. We purchased the property in July 2010 for £2.76m subsequently completed a lease regear and rent review with the tenant, The Hard Rock Cafe.