A portfolio of 17 ground leases across 12 self-contained, secure and ring fenced industrial sites. The estates were all located adjacent to Media City UK, the home to the BBC and ITV, in Salford. This portfolio sale represented an unusual asset comprising a range of different properties and covenant strengths, and as such needed presenting in the correct manner.
The portfolio was sold to Ventnor for £2,760,000 in December 2013.
Our investment team was able to use its significant knowledge and expertise in the North West industrial market to successfully demonstrate the range of asset management opportunities associated with this asset including sales to tenants, re-gears, and rent reviews.
As such, we were able to achieve a sale in excess of the asking price in difficult market conditions.
Type: Ground Lease Investment Sale
Tenancy: Let to 14 tenants with AWULT of 55.4 years