Newington House, Southark, London

The portfolio consists of 29 Kwik-Fit service outlets throughout the United Kingdom. It is let to Kwik-Fit GB Limited for a period of 25 years with guaranteed minimum uplifts of between 1% and 3% per annum. The total value of the portfolio is circa £20,0m. Debt of + £12.75m is in place with Norwich Union and KBC Bank. The strategy is to derive value from the portfolio where appropriate. Four redevelopment proposals are currently being considered.