Clearbell finalises purchases
Clearbell has completed its purchase of the £153m Amber and £50.8m Stephenson portfolios. Amber was sold by Aberdeen Asset Management at an 8% initial yield and Stephenson by Stirling Investments at an 11.2% yield. Clearbell was advised by Brown Cooper Marples on Amber and Deloitte Real Estate on Stephenson; Knight Frank represented Aberdeen; JLL acted for Stirling.
Hoi Hup makes City debut
Singaporean investor Hoi Hup has made its debut purchase in the City with the £77m acquisition of 1 Golden Lane, EC1. JP Morgan Asset Management has sold the 106,892 sq ft block, let to UBS AG, at a 5.5% yield. Knight Frank advised the vendor; Colliers acted for Hoi Hup.
KWERE shops in Spain
Kennedy Wilson Europe Real Estate has purchased a Spanish portfolio of Carrefour and Dia supermarkets for €85.5m (£60.5m) – a yield of 6.9%. Concentrated around Madrid and Barcelona the 11 Carrefours and five Dias cover 593,600 sq ft of lettable space. Savills advised KWERE; CBRE acted for AEW Europe.
Safestay makes Smart choice
Edinburgh’s Smart City Hostel has been sold to UK hostel owner and operator Safestay for £14.9m. The 615-bed operation has been sold by owner Blackfriars Property. The hostel sits just off the Royal Mile and was rescued from administration in 2009. Savills advised Blackfriars; Safestay was unrepresented.
LCCPF reigns over Queen Street
The McTaggart Third Fund has sold the short leasehold interest in 6-7 Queen Street, EC4, for £2.5m to Leicestershire County Council Pension Fund – a 13.1% yield. The 9,855 sq ft property has a £347,968 rent roll. Hanover Green acted for the vendor; LCCPF was advised by Colliers Capital.
