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DevCap:
A property development company in the U.K. |  |  Placement
Agent |  Co-Sponsor
and Investment Manager |  Co-Sponsor
and Asset Manager |
| Highlights
 | Expected Total
Equity Capitalisation: £35 million. | | Targeted Gross
Return on Investors' Equity: 18-20% per annum. | | Diversified
asset types, including office, retail, and industrial. |
| Exit Options,
upon achieving a successful trading record and subject to market conditions, include
an IPO or sale. | | Three contracted
developments as of October 2007 with an equity commitment of approximately £10.05
million. |
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Location
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Norden Road
Maidenhead
|
Berkshire
Business Park
|
Letchworth |
|
Asset Class
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M4 Office
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Industrial Estate
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Industrial Estate
|
|
Status
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Contracted
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Contracted
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Contracted
|
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Development Partner
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Terrace Hill
|
Easter
|
Space
|
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End Value
(JLL Appraisal)
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£62.1m
|
£17.8m
|
£10.9m
|
|
DevCap Share
|
42% Pre Planning
74% Post Planning3
|
75%
|
90%
|
|
Indicative Scheme
Return on Cost
|
15%
|
17%
|
18%
|
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DevCap Equity
|
£6m
|
£2.25m
|
£1.8m
|
|
Indicative DevCap
Return on Equity
|
60%
|
43%
|
23%
|
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| | Vanwall Business Park, Maidenhead
Prime office development site of 3.7 acres within two miles of the M4 motorway and 30 miles of London. Nearby occupiers include Siemens, Wyeth and Associated British Foods. Site development to provide 120,000 sq. ft. of high grade offices in two buildings with associated car parking.
Development Partner: Terrace Hill
Berkshire Business Park, Aldermaston
Industrial development site of 7.5 acres within 7 miles of junction 12 of the M4 motorway and close to Reading, Basingstoke and Newbury. Site development to provide 139,000 sq. ft. of industrial accommodation in four 12-unit terraces.
Development Partner: The Easter Group
Letchworth LLP
Two industrial development sites comprising a total of almost 4.5 acres and a mix of 1,500-2,100 sq. ft. units and land sales to owner occupiers.
Development Partner: Space Property Limited
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DevCap has a planned roling development program of apx. £ 200 million (with 90 million already in place) to be undertaken directly or in joint ventures with established reputable developers.
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| | For
further information, please contact Marwa AlMaskati at (+973) 17-549-392 or marwa@taib.com. |
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| TAIB
Bank is the Principal Founding Shareholder of Acacia, a real estate investment
company that focuses on income producing properties and select development projects
in the U.S., Europe, Turkey, India and other emerging markets. For more information,
contact (+973) 17-549-392. |
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