New Office building, Chalfont Park, Gerrards Cross
Strategic Investment Management Limited (SI) was the sponsor and operator of the SI Chalfont Park Limited Partnership, a limited partnership offering investors a potentially tax efficient means of investing directly in the UK commercial property market.
In October 2002, the Partnership acquired a new Grade A three storey office building of circa 36,000 sq. ft. for a total acquisition cost of £15.9m. Located on the east side of Gerrards Cross, Buckinghamshire, the property is strategically located close to the M25 and M40 motorways and15 miles from Heathrow Airport.
The property was let to News International PLC, Uniq PLC and Wilson Bowden Developments Ltd on three full repairing and insuring leases of between 16 and 20 years.
Investor equity raised by the Partnership totalled £3m with the remainder of the funding provided by a bank loan from HBOS.
The property was disposed of in March 2005 for £16.1m, providing an investor return of 21% over 28 months.