Standard Life sells portfolio
Standard Life has sold the Union Portfolio of industrial, office and trade counter properties to Eskmuir Group for £33m – an 8.5% yield.
The 500,000 sq ft portfolio contains 10 properties in areas including Poole, Dorset; Sittingbourne, Kent; Croydon, Surrey; and Cambridge.
Bilfinger GVA acted for Standard Life; Lewis & Partners represented Eskmuir Group.
Audley buys school site
Audley Retirement Villages has bought the former Stanbridge Earls School in Romsey, Southampton, for £10m.
The six-acre site, which includes a Grade II-listed Tudor manor house, will be redeveloped into Audley’s 13th retirement village.
Ian Scott International acted on behalf of the vendor, a private trust; Audley was not advised.
Malmaison Oxford exchanges
Land Securities has exchanged contracts to buy the Malmaison Hotel in Oxford for £47.4m, a 5.22% yield, from the Osborne Group.
The deal includes the 95-bedroom hotel, restaurants and bars, 40 flats, an education centre and art gallery.
JLL acted for Osborne Group; Land Securities was unrepresented.
Man United’s office sold
Manchester United’s offices opposite the Old Trafford stadium have been bought by a subsidiary of Westcombe Group for £1.9m – a 7% yield.
Acre Manchester bought the 31,000 sq ft office building at 701 Chester Road, Manchester, from O&H Properties.
Canning O’Neill acted for O&H Properties; Acre Manchester was unrepresented.
Mayfield buys police station
Mayfield has bought the former Chelsea Police Station, SW3, from the Metropolitan Police for around £40m.
Plans are being worked up for a £150m, 38-home development.
Savills and CBRE acted for Mayfield; Knight Frank advised the vendor.
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