Retail Portfolio Sale

Sales Report for John McDonagh and Kate McDonagh

Dear Kate, John,

It was a pleasure meeting you both yesterday and hopefully once the properties are sold, we can celebrate at Senior Sassi!

As requested, please see recommended guide prices and further information below.

The suggested guide prices reflect our view to engage the market; we will then leverage the interest to achieve the highest price the market is willing to pay.   

As shown on our call we are best placed in the market to dispose of these properties.

We can offer you the highest level or marketing, the furthest reach (domestically and internationally) and clicktopurchase which negates the need to go under offer and avoids price chips, abortive transactions and delays. We are the only agency offering these features as well as an electronic audit trail of all interactions.

Should the market be willing to pay above the guide prices, rest assured that we will ascertain. The market is uncertain and knowing an exact exit is extremely difficult, but our process will ensure best exit.

The market is generally 8% +/- at the moment in our direct experience within this sector.

As discussed, our advice would be to launch all the properties to the market. If any do not sell, then you can withdraw them from the market with no abortive fees, and perhaps re launch at a later stage with no cost as we will already have all the marketing material and legal pack prepared.

In the meantime, please feel free to phone me anytime with questions or if you would like to discuss the information below. I would also suggest watching the various video testimonials at the bottom of this presentation.

Warm regards,

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Video Report

Detailed Report

15 Cornhill, Bury St Edmunds, IP33 1DY

The property is let to WH Smith who offer a strong covenant. There are 9 years remaining on the lease and 4 years to the break clause. The property appears to be overrented at £160,750 per annum.

Comment: this is a comparatively large lot size for the town. The quoting yield needs to reflect this fact. We are offering a bank in Newmarket, smaller lots size, 3.5 years on the lease at 8% / £770,000 – interest is limited at the moment but we are just one week into the marketing.

Try initially guiding £1,890,000 which reflects a net initial yield of 8% though the market may be closer to £1,680,000 / 9%.

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29 High Street, Camberley, GU15 3RE

The property is let to HSBC who offer a strong covenant. There are 3 years remaining on the lease and 1 year to the break clause. The passing rent is £35,000 per annum.

Comment: The lot size is helpful to attract private investors but the short income will deter many. There is a chance that HSBC serve notice to break the lease so ideally this property sells prior to that.

We recommend guiding offers in excess of £283,000 which reflects a net initial yield of 12%.

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15 High Street, Chipping Norton, OX7 5AE

The property is let to Barclays Bank who offer a strong covenant. There are 3 years remaining on the lease and no breaks. The passing rent is £36,900 per annum.

Comment: Note our quote on the bank in Newmarket.  The small lot size in this instance is helpful to gain private investor interest.

We recommend guiding £440,000 which reflects a net initial yield of 8%.

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15 High Street, Clacton on Sea, OX7 5AE

The property is let to Barclays Bank who offer a strong covenant. There are 5 years remaining on the lease and no breaks. The passing rent is £48,000 per annum.

Comment: We refer again to the evidence mentioned in Newmarket and again there is an argument to quote a higher yield. However:

We recommend initially guiding £509,000 which reflects a net initial yield of 9%.

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6 Bridge Street, Warrington, WA1 2QW

The property is let to Yorkshire Building Society who offer a strong covenant. There are 3 years remaining on the lease and 1 year to the break clause. The passing rent is £30,000 per annum.

Comment: We can suggest in the marketing that there is some value to be released on the upper floors should the tenant vacant at the end of the lease. There is a chance that Yorkshire Building Society serve notice to break the lease so ideally this property sells prior to that.

We recommend guiding offers in excess of £265,000 which reflects a net initial yield of 12%.

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10 The Shambles, Worcester, WR1 2RF

My understanding is that this property has recently been let to a local tattooist on a 25-year lease with no breaks at a rent of £25,000 per annum.

We are assuming that the tenants covenant is ‘weak’ for the purpose of this exercise.

Comment: Whilst the 25-year lease appears attractive, the tenant does not offer any financial strength so investors are unlikely to place much value on the long lease.

We recommend guiding offers in excess of £204,000 which reflects a net initial yield of 12%.

.

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25-35 Nottingham Street, Melton Mowbray, LE13 1NN

As discussed, due to the tenant being Wilko, we will wait to see what happens with this site.

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Legal Pack & Timing

We will e-mail your solicitor and copy you in with clear instructions on compiling the legal pack. The pack should include all documents a prospective buyer’s solicitor will need to review. Leases, title documents, searches, CPSEs, EPC, insurance documents etc.

We will instruct your solicitor to add into the special conditions of sale that the buyer is to reimburse you for cost of the searches.

Depending on photographers and flight path availability we can usually prepare the marketing within one or two weeks. The legal pack will typically take around three weeks for the solicitor to collate.

General

We will manage the whole process from start to finish. For example, collating the legal pack with the solicitors, arranging access to the properties for photos and viewings, dealing with buyers and their solicitors and anything else which may arise.

Should you decide to instruct us, I will send terms of business to you and the marketing costs invoice. Then you can leave everything to us to deal with and keep you informed.

 

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Marketing Costs, Fees & Measured Survey

Our marketing costs are £2,500 + VAT which covers the costs of website, photos, video, aerial photography, PDF, emailer systems, online execution, etc.

Our fees are the higher of £13,000 or 2% of the Sale Price + VAT per property. There are no abortive fees if a property does not sell.

We will charge a buyer a Transaction Fee of either 1% of the Sale Price + VAT or £5,000 + VAT (depending on the property and to be agreed per property) and split this 50/50 with you.

We will obtain quotes from BKR Floorplans for each property for assignable measured surveys. The cost of each survey will depend on the size of the property. I estimate that for these properties it’s likely to range between say £300 + VAT and £650 + VAT.

Overseas-based investors are so important

Overseas-based investors register continually on our various platforms.

The Network has recently sold to investors in:

A Total Solution

No other agency network has these proven features, delivering a total solution.

Our Unique Offer

A unique, superior, progressive, and proven tech-approach

The International Network offers an unrivalled and enhanced marketing reach

A true international collaboration

How We Sell

A unique and market-leading approach to deliver the best in class promotion of properties, reach, online execution and audit trails.

World-first in many areas!

Digital Property Execution — world-first with a proven and extensive track record

A Faster more Accountable and Transparent Process of Selling Property

Legally purchase and sell property online with

A unique transactional platform where purchasers, owners and agents conclude the property sale process fully online.

Please note: variations may occur depending upon territory

The Online Methods of Sale

Properties are sold by the following methods of sale:

Private Treaty

A clicktopurchase® offer is a legally binding commitment by a purchaser which, if accepted, results in an instant online exchange of contracts.

Binding "Best Offers" / "EOI"

If selected, a sale can be concluded by an online binding “Best Offers” / “Expressions of Interest”.

We uniquely offer an immutable and totally transparent audit trail in relation to the process of buying and selling real estate

The Client Dashboard

Clients Dashboard

Real Time Activity Reports

When we are selling your property, you will have access to real time activity reports so you can see exactly the interest generated from our marketing. Selling clients no longer need to ask for an update. This is available at a click so when selling you have exact knowledge of the market reaction to your property.

Analytics for your Property Marketing Website

Statistics on Emails

Distributed, Opened and Clicked

Schedule of Interest

Viewed in Real Time

See All Transactional Activity in the clicktopurchase® platform

Case Studies

137-141 High Street, Harborne

Singer Vielle UK launched for the sale a parade of local shops in Harborne at an asking price of £685,000. The property was promoted by an email marketing campaign on Tuesday 19th July 2022 – over 7,400 promotional emails were read internationally representing a 44% open rate. The property attracted strong competition early into the marketing campaign resulting in a purchaser submitting an online legal offer to treat by clicktopuchase inexcess of the asking price on 20th July 2022, further increasing in an attempt to secure the investment. The offer was not accepted and by Thursday 21st July, following subsequent competitive interest, an online legal offer around 15% above the asking price and 33% over valuation was submitted by a successful party; this offer was accepted, resulting in an instant online legal exchange.

The entire marketing, offer and acceptance process was recorded in the clicktopurchase® blockchain providing an immutable audit trail – the ultimate in trust.

Marketing reach, speed, certainty, transparency, trust – a unique and powerful service.

The blockchain audit trail can be found here.

View the full journey of the sale here.

Case Study Image

Jackson’s Corner, Reading

On behalf of Administrators, Singer Vielle were instructed in 2023 to marketing a complicated property in Reading town centre.

The property suffered from many issues, including failure to meet planning obligations, fire protection matters and vacancies.

The property was offered with Clicktopurchase® functionality in order to enable interested parties to submit legal offers to treat online and, thereby, provide the selling bank with speed and certainty during the sale process.  Extensive information was provided in the data room to ensure full disclosure.

Significant interest was generated.  It was decided just two weeks into marketing to conclude the sale by a Clicktopurchase® “Best Offers”.

Sykes Capital, the successful purchaser, submitted their Clicktopurchase® by the deadline, the offer was accepted and a legally-binding, digitally-signed contract was auto-generated by the platform.

“In our experience clicktopurchase has been easy to navigate and seamless throughout. As seasoned investors, the unique process of submitting legally binding best bids by a deadline date suits our ‘no nonsense’ style of acquiring well and we would be very willing to use the platform going forward.” Charlie Sykes, Director of Sykes Capital

The enhanced level of information provided helped the buyer’s speedy review of the asset, whilst our proprietary technology enabled Sykes Capital to move to a fast legal contract exchange online and prove their intent.

The blockchain audit trail can be found here.

View the full journey of the sale here.

Case Study Image

157 Great Ancoats Street, Manchester

Singer Vielle was instructed in 2023 to market a commercial investment in Manchester on behalf of Administrators.

A highly complicated property with many issues which would usually result in great uncertainty when “agreeing terms” with a purchaser in a traditional manner.  However, Singer Vielle procured a number of online Clicktopurchase® legal offers to treat from various parties.  Whilst under consideration, a new purchaser appeared and submitted a Clicktopurchase® offer just one day after inspecting the property; the offer was in excess of other interest and, therefore, accepted immediately, resulting in an instant online contract exchange.

I’ve had the opportunity to use the Singer Vielle clicktopurchase platform on several occasions now and every time I have been really impressed.  It’s quick, it’s easy, it gets the job done and the customer service is great too.” Anton Bradley, Redwood Bank

A demonstration of how our unique platform ensures speed of process and “locking-in” a party legally to provide certainty.

The blockchain audit trail can be found here.

View the full journey of the sale here.

Case Study Image

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We use all modern methods of marketing and communication. Investors can choose any number of ways to receive notifications of our new property sales to boost exposure:

Register on our databases; receive alerts on Twitter, Instagram, YouTube or Facebook; follow us or join our LinkedIn groups;

We are here to help buyers and sellers every step of the way.  If for any reason the current properties we are marketing are not suitable for an investor, pop-up notifications will remind them to register on our databases and share their requirements.

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For property alerts

A unique transactional platform where purchasers, owners and agents conclude the property sale process online. It provides the facility for a legally binding exchange of digitally signed contracts to be conducted.

*note: variations may occur depending upon territory.

clicktopurchase® uses hash and encryption technology as part of the creation of the transactional audit trail; this is then recorded in the clicktopurchase® Blockchain.

Our unique and modern approach, available to all members of our network, delivers significant and proven advantages over the traditional methods.

For property alerts

A unique transactional platform where purchasers, owners and agents conclude the property sale process online. It provides the facility for a legally binding exchange of digitally signed contracts to be conducted.

*note: variations may occur depending upon territory.

clicktopurchase® uses hash and encryption technology as part of the creation of the transactional audit trail; this is then recorded in the clicktopurchase® Blockchain.

Our unique and modern approach, available to all members of our network, delivers significant and proven advantages over the traditional methods.

A unique transactional platform where purchasers, owners and agents conclude the property sale process online. It provides the facility for a legally binding exchange of digitally signed contracts to be conducted.

*note: variations may occur depending upon territory.

clicktopurchase® uses hash and encryption technology as part of the creation of the transactional audit trail; this is then recorded in the clicktopurchase® Blockchain.