Two bites of the cherry
We are much more than a commercial real estate business.
The RO is often wrongly perceived as merely a real estate business, which belies its core diversity of interest principles. Although it is certainly true that commercial and residential property in one form or another contributes significantly to the value of the business, we are much more than that.
In business to do business
The underlying focus of the RO is always driven by a fundamental trading philosophy, and our corporate adage of being ‘In business to do business’ lies at the heart of everything we do, across all our business interests.
Having a deeper understanding of the activities / interests of all our business relationships, be they tenants, advisers, suppliers or contractors, can be instructive in developing better insights, becoming aware of potential problems at the earliest possible stage or finding opportunities that wouldn’t otherwise have come our way.
It is this simple knowledge and awareness based approach to business which has led to the RO becoming involved in more than 20 different business trades over its history and which continues to drive the motivation and the desire to find the next area of opportunity.
We certainly take a long-term view on property ownership and are prepared to hold assets for long periods, frequently
re-examining them for alternative use potential to see if a ‘second bite of the cherry’ might be available.
The first image shows a car dealership in Harrow, originally acquired in the 1950s as a garage and forecourt, which subsequently evolved into an ideal site for residential housing, becoming one of two of our garage forecourts that ultimately became Pegasus Retirement Homes sites nearly 50 years later.
Similarly this second pair of images shows a property in Lytham St Annes. This was originally acquired with two floors of tired offices above retail. With a strong location underpinning the investment opportunity we were able to gain planning to add an extra floor to the building, convert the office space into a Travelodge hotel and considerably improve the value of the retail element by adding a M&S Simply Food and Costa to the parade.