Two high-profile investors are preparing to sell a pair of regional portfolios with a combined value of £115m to capitalise on a dearth of secondary stock on the market.
In a potential £70m sale, Blackstone is flipping an eight-strong portfolio from the assets formerly owned by Nick Leslau’s Max Property Group.
Meanwhile, Salford-based investor Aubrey Weiss has appointed agents to prepare a sale of the mixed-use Dynasty portfolio for around £45m.
Dynasty combines around 50 asset-management-heavy properties around the UK, mainly in the industrial sector, as Weiss repositions his portfolio towards more straightforward investments.
Blackstone’s assets comprise eight 1980s-built business parks of between 25,000 and 100,000 sq ft.
The parks are predominantly in the Home Counties and the South East, with the remainder in Manchester and the South West.
Blackstone acquired the assets as part of its £448m takeover of Max Property Group in 2014.
Max acquired them in 2010 from UBS Triton Property Fund as part of a wider business park portfolio acquisition.
CBRE and Knight Frank have been appointed to market the Blackstone portfolio, while Knight Frank and Lewis & Partners are selling the Dynasty portfolio.
