Asset manager Catalyst Capital has emerged as the frontrunner to buy a £400m-plus investment portfolio from Evans Property Group.
Leeds-based Evans Property Group brought the portfolio to market last month in the first major sell-off in the privately owned company’s 70-year history (EGi News, 10 April).
Catalyst is thought to have bid in excess of the £400m price tag for the properties, which include
Evans, a low-profile, family-owned firm, plans to use the sale proceeds to expand and fund the group’s development pipeline, which has an end-value of more than £1bn.
Last year, it appointed former Land Securities chief Ian Henderson, Credit Suisse’s Ian Marcus, and John Stephen, chairman of Jones Lang LaSalle’s English business.
Plans include expanding its Evans Easyspace serviced office division, which has 42 centres and is valued at £125m.
JLL is advising Evans on the sale, but was unavailable for comment. Catalyst and Evans were also unavailable.
