Corporate Partnerships
Roxhill
In 2010 Abstract, working alongside management, introduced the finance for and invested in Roxhill Developments Group Ltd. Abstract and management co-invested alongside Forum Partners in the first round providing £40m in total for the Company. The Roxhill management is led by David Keir and Jason Dolby, both of whom have significant experience with Kingspark, ProLogis, Rosemound and Goodman. In March 2012, a further £40m was committed to this venture by CBRE Investors and Forum Partners.
The company has secured land and interests over land in the region of 2,000 acres in the key logistics areas of the Midlands and South East. For detailed information please visit: www.roxhill.co.uk
Pharmacy2U
Abstract is a significant investor in Pharmacy2U, which is one of the first on-line pharmacy companies in the UK. Established in 1999, Pharmacy2U has played a pioneering role in bringing about changes and in shaping the health agenda in the new era of online pharmacies. It is now the country’s largest dedicated internet and mail order pharmacy. For detailed information please visit: www.pharmacy2u.co.uk
Consultancy
Abstract has undertaken consultancy support work over a number of years. In October 2002, Abstract was appointed by J.P. Morgan Cazenove to assist them in the quantification and negotiation of their dilapidations liability in respect of their former premises in the City of London. The success of this mandate led to the release of a significant reserve by J.P. Morgan Cazenove in 2004.
Abstract was appointed by ProLogis to provide special consulting services throughout Europe. As part of this work Abstract set up an office in Moscow to run a feasibility study of the Russian market for ProLogis. ProLogis, now merged with AMB Property, is the largest developer and owner of warehousing in the world.
Over the last few years Abstract has been actively advising a number of major international investors seeking to restructure debt portfolio investments. Abstract has now been involved in transactions with property assets valued in excess of £1 billion, interacting directly between the investors and banks and seeking to achieve long-term solutions to these problems. Abstract has also been active in the CMBS market and has traded this debt in its own right.
In September 2013 Abstract concluded its advisory role for the international law firm, CMS Cameron McKenna, in its search for a new office in the City of London. As a result of Abstract’s work, CMS has taken 140,000 sq ft in Cannon Place.
Whilst not actively involved in the residential sector, Abstract has been providing corporate advice to Regal Homes in relation to a number of its recent projects. In addition, Abstract was responsible for introducing a large development project in Whitechapel to GreenOak Real Estate Advisers.
Venture Capital Financing and Investment
In March 2001, Abstract acquired a 20% interest in a care home operator. Abstract procured both equity and debt finance to expand the operation, enabling it to increase the number of care beds it operated from 4,000 to 7,700 over the following 12 months and in August 2002 the company was sold to West Private Equity. The company was worth £15 million at the start of Abstract’s involvement and was sold in August 2002 for over £46 million.
