PEOPLE WITH RESOLUTION

Transcription

1 R ESOLUTION

2 People 02 Skill 05 Teamwork 07 History 08 Experience 11 Growth 13 Strategy 14 Opportunities 17 Action 20 Initiative 23 Diligence 25 Portfolio 26 Cooperation 32 /01 It takes experience and expertise to generate healthy returns from property. And a great deal of effort. We are proactive property specialists. Across Europe, we work with vendors, tenants, business partners, financial institutions and local government to realise the potential of property. Identifying opportunities to add value, we create benefits for all concerned. Generally, we look for refurbishment and redevelopment potential, paying careful attention to initial stock selection and scope for active management. Following a decade of organic growth, we are an established force in property. As an institution, we are analytical and quietly professional. As innovators, we are imaginative and quick thinking. Importantly though, an extra attribute underlies our success. Collectively, we have a sense of purpose. Once we have decided on a course of action, we see it through with determination. We have resolution. Whatever the obstacles and whatever the market forces, we deliver. This resolution gives us our competitive edge, as our outstanding group of world renowned investors will testify. Needless to say, it also gives us our name.

3 02/03 PEOPLE WITH HAMMERSMITH GROVE We acquired this 200,000 sq ft 1950s office building from Wimpey Construction in the late 1990s. During an extensive refurbishment, we created a dramatic double height reception space.

4 04/05 PEOPLE WITH Skill Bringing together experience in architecture, banking, leasing, law, finance, real estate investment and international property development, we are a close-knit team combining a unique blend of skills. Together, we can rapidly devise plans to unlock value from property. This strategy works to the advantage of all stakeholders in a property, site or locality, as well as working to the advantage of our investors. Our growing group of financial backers include pension funds, family offices and the endowments of leading US universities.

5 06/07 PEOPLE WITH Teamwork The transactions, refurbishments and redevelopments we embark upon are often complex, yet we maintain our uncomplicated, pragmatic approach. Our policy of employing highly qualified in-house specialists and our culture of cooperation help to make things happen. Without cutting corners or compromising risk management, our straightforward style leads to speed. Bearing in mind the large sums of money we deal with, we do our dilligence work and make decisions in short time frames. In fact, our business partners often comment on our agility, lack of bureaucracy and attention to detail.

6 08/09 HISTORY OF GREATER LONDON HOUSE Working with our partner, Media Office, we undertook a major refurbishment and repositioning of this 330,000 sq ft art deco factory to create an iconic building housing a number of well known media businesses.

7 10/11 HISTORY OF Experience Resolution was formed in 1998 by an established and experienced investment team. Drawing on our knowledge and skills, we set out to invest in UK and European commercial property with potential for improvement. Since our launch we have carried out three successful fundraisings the most recent closed during December With each capital raising we have significantly increased both our shareholder base and our investors equity commitments. Our team has also grown substantially, although we have retained our short lines of communication and ability to act decisively.

8 12/13 HISTORY OF Growth Fund 1 Backed by a leading US private equity investor, we completed our first capital raising in February We invested in retail, industrial and office assets with an emphasis on the London media industries. Fund 2 We closed our second capital raising in February 2004, with commitments from an enlarged shareholder base including international private equity investors, pension funds and major US universities and foundations. Our portfolio extended into continental Europe. Fund 3 Our third capital raising closed in December 2007, with increased commitments from many of our existing investors, along with a wider range of endowments and foundations and family offices. Equity 100M Gross capital employed 285M Equity 330M Gross capital employed 1,350M Equity 800M Likely fund size 3,000M

9 14/15 STRATEGY AND PRINTWORKS We are developing proposals for the repositioning and refurbishment of this landmark leisure, entertainment and retail complex in Manchester city centre.

10 16/17 STRATEGY AND Opportunities Over the years we have identified a wide range of opportunities within the property arena. Each has its own characteristics, but here are some typical examples: Assets that have been in the same ownership for a number of years and can benefit from fresh thinking. Property in a sector or region falling outside the owner s core focus. A building that needs substantial investment to extract its true value. Adjoining properties held by multiple owners that would be more manageable and valuable under single ownership. We bring our core skills of innovation and pro-active management to all of these projects.

11 18/19 STRATEGY AND Retail We have a long track record investing in UK retail properties, particularly shopping centres and out-of-town retail parks. During 2001 we embarked on our first investment in this sector within continental Europe. More recently, we have extended our portfolio across Europe and we will actively pursue large retail properties that have the potential for added value. Offices We have focused our office investment activities in London and the South East. Exploiting our skill at reading and reacting to market cycles in this sector we are more than willing to take on major refurbishment projects. Often reusing or adapting older buildings, we create flexible, modern working environments. We have recently started to extend our reach to other major European cities. Residential In 2006 we embarked on our first residential investment and development. Our focus has been on London and Geneva. We are keen to develop the residential side of our business. Hotels and Leisure We are promoting hotels across Europe, including Berlin s Soho House. Territory We made our first overseas investment in 2001, in Sweden. Since then, we have invested in Spain, Portugal, Germany and Switzerland. We will continue to seek interesting opportunities across continental Europe. Partnerships We are happy to work in partnership with other experts who can expand the reach and skills of our business. We have established several successful partnerships and joint ventures for both investment and development, including those with Media Office and Vinyl Factory in London and Patrimonium in Switzerland.

12 20/21 ACTION AND QUADRANGLE The Quadrangle is a freehold block at the junction of London s Wardour Street and Oxford Street. We are planning a mixed-use comprehensive refurbishment.

13 22/23 ACTION AND Initiative We have always believed in the power of first mover advantage. Energetically but selectively moving into new property sectors and new territories has enabled us to maintain our momentum and our record of above-average returns. Naturally, this momentum does not end with the acquisition of a property asset. It gathers pace, as we rely on active management to add value and bring benefits to the building s stakeholders. Helping occupiers achieve their aspirations is a constant focus of our management team and we employ a range of techniques to achieve this.

14 24/25 ACTION AND Diligence Although we move fast, we advance with care. We have an eye for detail, believing that opportunities often lie within the details others might miss. This combination of diligence and pragmatism allows us to take on challenging buildings. Sometimes we find that the tenancy agreement or ownership structure of a building is hampering progress. There may be problems with the legal title or the lease structure. We resolve such issues to improve the asset and build our reputation for delivering returns that consistently outperform the market.

15 26/27 PORTFOLIO BEHIND

16 28/29 A selection of some of our past and present projects OFFICE /01 Greater London House Camden, London Working with Media Office we carried out a comprehensive refurbishment and repositioning of this 340,000 sq ft former cigarette factory to create one of London s most iconic office buildings. /02 Hammersmith Grove London We completed a high-specification refurbishment and repositioning of this 200,000 sq ft 1950s landmark office building. /03 Quadrangle Westminster, London We are currently developing plans for the refurbishment of this recently acquired building in the heart of Soho, London s key media district. /04 Senator House London This 160,000 sq ft office building in the heart of the City provided us with a number of asset management opportunities. We renegotiated the terms of the headlease, agreed lease surrenders and carried out refurbishment works. /05 Little Britain City of London London We saw the opportunity to acquire two 50% interests in this 475,000 sq ft City office building. Unifying the ownership, we then sold the building to its tenant. /06 London Gate Hayes, London We acquired EMI s 700,000 sq ft art deco gramophone factory close to Heathrow and next to Hayes station. Working with Blackstone and JER, we are carrying out a phased refurbishment of the buildings to provide modern, cost-effective office space. RETAIL /07 Forge Shopping Centre Glasgow We carried out a number of refurbishments and a 100,000 sq ft extension to this 350,000 sq ft shopping centre, arranging major lettings to Boots, Arcadia and New Look. /08 The Watergardens Harlow Working alongside Wilson Bowden, we transformed the retailing environment in Harlow, funding this 289,000 sq ft retail development and leasing units to Next, River Island and Topshop. /09 Great Western Retail Park Glasgow This 189,000 sq ft retail park anchored by Sainsbury s and B&Q was the first of a number of acquisitions in the UK out-of-town retail sector. We identified opportunities to reconfigure the property to meet the changing needs of its occupiers. /10 Sweden Retail Parks Stockholm, Helsingborg, Gothenburg Over 3 years, we built a portfolio of retail parks near major Swedish conurbations and we were first to attract major Swedish fashion retailers to out-of-town locations. /11 Megapark Barakaldo Bizkaia, Spain Anchored by IKEA, this regionally important retail desination was purchased with a number of vacant units and a partially complete shopping centre. We have let space to C&A and El Corte Ingles, significantly broadening the tenant mix at the previously bulky goods-focused retail park. We have also completed a major refurbishment and repositioning of a failing covered galleria to create Park Avenue, the only true fashion outlet in Northern Spain. /12 Germany We have assembled a portfolio of over 2.4 million sq ft of predominantly out-of-town retail properties across Germany. Our portfolio is focused on discount retail formats that are consistently popular with German consumers and resilient in times of economic uncertainty. /01 /03 /08 /09 /04 /10 /11 /02

17 30/31 RESIDENTIAL /13 Docklands Surrey Quays, London We have created a portfolio of around 200 houses across London s Docklands, Bloomsbury and Camden. The portfolio is actively managed, with rooms let on a room-by-room basis to the young professional occupier market. /14 Switzerland We recognised that the Swiss residential market was particularly supply constrained as a result of restricted foreign ownership and rent controls. Teaming up with local specialists Patrimonium, we have created a major portfolio of 1,500 leased apartments between Geneva and Lausanne. /15 Marshall Street Westminster, London We are developing 37 apartments in partnership with Vinyl Factory. We gained planning permission in return for agreeing to refurbish a listed swimming baths in the heart of London s Soho. This project was won via a local authority public tender process. HOTELS AND LEISURE /16 Berlin Soho House Torstrasse, Berlin In partnership with Vinyl Factory we are carrying out a major refurbishment of an iconic building in Berlin to create the first Soho House club and hotel in continental Europe. /17 Printworks Manchester We are developing proposals for the repositioning and refurbishment of this landmark leisure and entertainment complex in Manchester city centre. /13 /14 /16 /17 /15

18 32/ COOPERATION AND Our enterprise depends on partnerships. We are always eager to consider new joint ventures, acquisitions and related transactions. In particular, we relish the opportunity to examine unusual, creative suggestions that may add value to property assets. If you think your venture could move forward in partnership with Resolution, please get in touch. Resolution Property 31 Bruton Place London W1J 6NN Phone +44 (0) Fax +44 (0) Designed and produced by Radley Yeldar Photography by Marcus Ginns Printed by CTD Capita Ltd

19 Resolution Property 31 Bruton Place London W1J 6NN T +44(0) F +44(0) E information@resolutionproperty.com