A SYNDICATE formed by Lewis Innovative Investments in Poole has bought the JobCentre building in Bournemouth.

Contracts have just been completed on Tamarisk House, the Bournemouth JobCentre Plus in Cotlands Road for £5.28 million – the firm’s “biggest ever deal”.

Director Paul Mitchell explained that Lewis, which has been trading for 21 years, enables investors through its aqua range to club together and invest in commercial property.

It only purchases sites in good condition, in a strong location, with a dependable tenant, allowing “your average businessman to invest in commercial property” and reap a decent reward.

Acquisitions are possible through its strong relationship with the corporate branch of Natwest Bank, with which Lewis has “in excess of £30m” according to Mr Mitchell.

The concept is simple.

Lewis generates returns for its investors through rent payments and increases and has achieved this through 15 syndicates, generating as much as a 149 per cent return.

Tenants include Natwest Bank, Meggitt plc, the defence company, and fashion retailers New Look and Laura Ashley.

In its latest venture, the Tamarisk Limited Liability Partnership has purchased the freehold of Tamarisk House, a 12-month-old detached three-storey office building.

Completed as part of the government’s JobCentre Plus programme by the Department of Work and Pensions, it is subject to a 14-year lease to Trillium (Prime) Property GP Ltd at an annual rent of £433,877.

As of March 2007, Trillium generated a £37m profit from a turnover exceeding £272 million.

Investors who have put in a minimum of £30,000, have chosen to either receive a yearly seven per cent return or wait for 10 years and get 20 per cent.”