wadebridge1.jpg

AGL was appointed to advise on a development site in Wadebridge, Cornwall.

We negotiated the option to acquire the site, appraised retail and leisure schemes and market-tested demand for the proposed scheme.  Planning consent was secured for a 67 bed hotel.

We agreed an innovative ground lease deal with Premier Inn and sought an investor to forward purchase the scheme.  A sale was agreed to a private family trust at a price reflecting a 3.75% net initial yield. 

This delivered returns to our developer client of more than 2x equity and an IRR in excess of 100%.  The hotel opened for trade in June 2018.

HomebaseSainsburysCharlies DirectChristiesMECCA BingoWaitroseMRMURevcapWhatOaktreeMSILSpinkMunroeInternosKildareMorrisonsMcDonaldsConcarusGrosvenorE-vapoAvivaCBREArgosColthreadCapital & RegionalFairacreRed5Menkind