News

McDOWELL TAKES THE HELM AT SIOR EUROPE

Paul McDowell appointed President of the SIOR European Regional Chapter

Paul McDowell has been elected as the new President for the European Regional Chapter of the Society of Industrial and Office Realtors (SIOR).  The announcement, which was made at the Chapter’s AGM in London, will see him undertake a two-year term, during which his home city of Dublin will host the SIOR International Conference in July 2020.

Commenting on the appointment, McDowell said: “This is a most exciting time to be taking on the role as President of the European Regional Chapter as the organisation embarks on delivering its ambitions to grow its global platform significantly over the coming years.  Existing members have already seen the strength and breadth of the organisation in the US and both the European leadership and membership look forward to emulating this success, expanding our membership base and increasing collective transactional opportunities.

https://www.sior.com

Acquisition of Whitwick Retail Park in Coalville, UK for £9.9 million

Paul McDowell Ltd are pleased to announce the purchase of Whitwick Retail Park in Coalville for Corum Asset Management for £9.9 million, reflecting a net initial yield of 6.9%. The Vendor was New River REIT Plc.

The conveniently located retail park was sold following the completion of NewRiver’s comprehensive programme of active asset management initiatives. These initiatives included agreeing a new 15-year lease with B&M, upsizing Peacocks into a 10,000 sq ft unit, introducing Pets at Home and Sports Direct into a unit formerly occupied by Littlewoods and upgrading the facades across the Park.

Whitwick Retail Park is adjacent to a 77,700 sq ft high performing Morrisons food store and spans 55,300 sq ft with 697 parking bays and a strong retailer line-up including B&M, Poundstretcher, Peacocks, Sports Direct and Pets at Home.

Corum Asset Management were represented jointly by Paul McDowell Ltd and Egan PAM.

Philippe Cervesi, Head of Investment, Corum Asset Management, stated that: “We are happy increasing our exposure to the UK market with our third acquisition this year. The Corum XL fund is growing steadily and we intend adding to these investments in 2018 and the coming years”.

SIOR European Conference in Warsaw June 2018

As vice-president of the European Chapter of SIOR (Society of Industrial and Office Realtors), taking over as president in October 2018, Paul McDowell assisted the organisation of the recent highly successful European Conference as Co-Chair of Programmes held in Warsaw in June 2018. One of the highlights of the conference was a closing address given by the former president of Poland, Lech Walesa, who is a Nobel Peace Prize winner and an iconic historical figure of the 20^th Century.  www.SIOR.com