saul western
Partner, Capital Markets

Saul has 25 years experience in the property industry and is a member of the Commercial Division Board. Having joined Bidwells in 1991, he has been a partner in the investment team for around 17 years working with institutional investors, property companies, private equity funds, long term endowment funds, private investors and occupier clients on a wide range of properties with particular expertise in the Eastern Region.


Tesco JV, Nationwide Portfolio:

Advised Trinity College, Cambridge on the formation of a JV with Tesco involving a sale and leaseback of 11 supermarkets nationwide and simultaneous bond issue.  Total value £440m.

CB1 Mixed Use Scheme, Cambridge:

Advised Brookgate on the full funding and sale of 145,000 sq ft of new grade A office buildings pre let to Microsoft, Mott MacDonald and Birketts, a new 125,000 sq ft speculative office, 231 bed pre let Ibis Hotel with associated retail and 3,000 space cycle park and a 511 student room development let on a nomination agreement to Anglia Ruskin University at the CB1 mixed use scheme in central Cambridge. Funding partners included Tesco Pension Trustees Ltd, Orchard Street Investment Management Ltd and La Salle Investment Management Ltd. Total value £220m.

Units 194/196/198 Cambridge Science Park, Milton Road, Cambridge:

Advised Trinity College, Cambridge on the sale of three grade A offices totalling 108,800 sq ft let to NAPP Pharmaceutical Holdings Ltd. Acquired by Legal and General Assurance (Pensions Management) Ltd for £35m.

Howdens Joinery National Distribution

Centre, Northampton: Advised on the acquisition of a 971,500 sq ft high bay distribution centre located in the “Golden Triangle” let to Howdens Joinery Group Plc producing £6.905m per annum. Acquired by M&G for £47m.

Exchange House, Midsummer

Boulevard, Milton Keynes: Advised on the acquisition of a prime city centre multi let office and retail investment comprising 121,410 sq ft producing over £2m per annum. Acquired for a private property company for £23m.

The Grafton Centre, Cambridge:

Advised Legal and General and Wrenbridge on the acquisition of a major shopping centre from M&G Real Estate, for £99m reflecting a net initial yield of 5.18%. Cambridge’s second city centre shopping scheme comprising 500,000 sq ft of retail and leisure arranged of 84 units having 1,150 car spaces. Acquired with plans to enhance the centre through active asset management.

Homebase, Snowdon Drive, Milton Keynes:

Advised Dacre Property Holding on the acquisition of a prime retail warehouse investment from Aberdeen Asset Management for £21.8m reflecting a net initial yield of 6.20%. Flagship 82,500 sq ft retail warehouse in city centre cluster at Winterhill. Let to Homebase Ltd with an unexpired term of around 14.5 years producing £1.42m per annum.

Units 1-4 & 14-42, Morgan Way Industrial Estate, Bowthorpe, Norwich:

Advised Grovemere on the disposal of a multi-let industrial estate to Canmoor for £5.73m reflecting a net initial yield of 7.57%. 1980s built industrial estate comprising 33 units and covering 97,000 sq ft. Currently let to 15 tenants generating around £460,000 per annum equating to £4.75 per sq ft overall.

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