A portfolio of three industrial properties located in the North West in Bury, Chadderton and Runcorn. The portfolio comprised in total 420,000 sq ft of refurbished accommodation let to good quality tenants on relatively short terms unexpired. Two of the sites were bespoke distribution facilities and the third an industrial and office ‘break up’.
The portfolio was marketed either as individual asset sales or as a portfolio sale. This involved preparing a detailed marketing pack and personally presenting the opportunity to those buyers actively seeking opportunities in the market and explaining the different characteristics of the properties, the occupational market, their locations and reasons for tenant occupation.
The properties were eventually sold as a portfolio to Clear Bell Property Partners for a price of £18.4m reflecting a net initial yield of 9.47%.
The deal was executed in 3-4 months demonstrating our ability to handle larger portfolio sales made relatively complex by the nature of the individual properties.