Projects > Subsidiary Companies
Workham (Gloucester) Ltd
A wholly owned subsidiary of Workham European Property Ltd, Workham (Gloucester)
was formed in early 2005 as the vehicle through which to invest in a portfolio
of residential multi-tenanted property in the centre of Gloucester. Our
aim in acquiring the estate was to achieve significant capital gain over
a ten year period, taking account of the low residential values prevailing
in Gloucester compared to those in neighbouring towns and cities, and of
the city’s ongoing regeneration.
The properties had been under managed by their previous owners for some time, and since acquisition, Workham has increased the rent roll by almost 40%, whilst at the same time enhancing the quality of this income by letting part of the portfolio to Hartpury College, University of the West of England.
A programme of renovation and improvements has also been implemented in
order to upgrade the quality of the properties and increase their capital
value.
Workham (Barnwood) Ltd
We formed this wholly owned subsidiary in early 2006 in order to invest
in a modern office park situated on the outskirts of Gloucester. The asset
had previously been part of an institutional portfolio, and had not been
proactively marketed. Upon acquisition, the scheme was partly let; in the
short time since completion, we have successfully negotiated a number of
new leases and are currently marketing the remainder of the properties for
sale or to let on flexible lease terms.
Click
here to view Meteor Court website
Click here for office suites for sale
or to let at Meteor Court (PDF 740kb)
Workham (Benelux) SA
Workham Benelux was set up in 2004 as a corporate vehicle through which
to invest in property in Belgium. It made its first purchase of an office
building in the centre of Brussels through the wholly owned subsidiary Immobiliere
Commerce 10 in 2004. Our initial intention was to refurbish and redevelop
with building for completion and sale in early 2007; however we were made
an attractive speculative offer and have recently traded the asset.
Click here to go back to Project page.
