Bell Hammer, the development and investment specialist, has announced the acquisition of Dukes Green, Heathrow, as the first asset in a new £300m strategy focused on acquiring income-producing assets with medium/long-term development potential.
The acquisition of Dukes Green, Heathrow, demonstrates the investment strategy of combining resilient day-one income with the potential to create additional value over the medium/long term. Located in the prime Heathrow market, the asset comprises 57,200 sq ft of offices in three buildings leased to the government until December 2032.
Bell Hammer will actively manage the asset to enhance its operational performance and unlock its development potential, subject to planning and market conditions.
The initial target investment is £300m comprising assets that generate income from the point of acquisition and have potential for redevelopment, repositioning or alternative uses. The focus is on opportunities where disciplined asset management can protect current cash flow and create meaningful future value.
Target properties include offices, industrial, retail warehousing and income producing land, primarily in urban locations or close to the motorway network. Bell Hammer is seeking individual transactions of approximately £5m to £25m, with flexibility for larger portfolio or platform opportunities.
Robert Howe, Head of Investment at Bell Hammer, said: “Dukes Green Heathrow is an excellent example of the opportunities we intend to pursue: an asset producing income today, in a strategically important location, with a compelling medium/long-term business plan. The launch of our £300 million strategy gives us the scale and flexibility to identify similar investments and create value through patient, active ownership.”
Bell Hammer is actively reviewing a pipeline of opportunities and expects to announce further acquisitions as capital is deployed.
