Qualis Group acquires its first two investment properties
Qualis Group completed its first two property deals at the end of 2020. The Group plans to build a diverse investment portfolio that will provide long term secure income.
The properties were acquired by Qualis Living, the Group’s investment and asset management company. The Group has adopted a low-risk approach to property investment, targeting different asset classes and will consider investment opportunities both in and out of the District to balance risk and support the financial stability of the Group.
Paul ffolkes Davis, Chair of Qualis Group said, “These two acquisitions are extremely important for the Group as they allow us to generate a good rental yield and income surplus that will underpin the long-term financial strength of the business.
“Our programme of activities has been established to make Qualis a sustainable and profitable business to the benefit of Epping Forest District Council and the local community.
“Our strategy is to look for investment opportunities, both in the Epping Forest District and elsewhere, that have low occupational risk and no immediate capital investment requirement but provide immediate and secure income for 10+ years , targeting a net initial yield of 6%. Every investment opportunity is assessed by the Investment and Development Committee before being recommended to the Group Board.”
The Birchwood Building in Leatherhead, Surrey comprises a newly refurbished multi-let 34,939 sq. ft. office building together with 154 car parking spaces. Located in the Leatherhead Park the building has been completely refurbished to provide modern, high specification, office space for multi-national tenants, Zoetis UK and Hyundai Motor UK.
Wickes in Maldon, Essex is a purpose built stand-alone retail warehouse comprising approximately 28,199 sq. ft. of accommodation at ground floor level. The site extends to 3.13 acres with the Wickes store occupying 0.7 acres and 149 car parking spaces to the front of the building.
After the deduction of the cost of finance these two assets provide a net income of just over £600,000 per annum to Qualis.
Qualis Group is wholly owned by Epping Forest District Council. Its purpose is to act commercially and deliver benefits to the shareholder and the community through property development, asset management and FM services.
Qualis Group will initially contain three subsidiary companies, Qualis Commercial, Qualis Management and Qualis Living. Each of these companies will have a common purpose to enhance the District through regeneration, investment and asset management to support the community.