A former lawyer from Sheffield is poised to buy and sell two £100m-plus portfolios before Christmas.
Glen Maud who retired from the law in the 1980s before building up a £600m property portfolio is buying 11 buildings put on the market by Insight Investment last month.
He is paying £158m for the 1.196m sq ft Ambassador portfolio, which includes a 35,000 sq ft office in Kensington, west London, and the 400,000 sq ft Wednesbury Trading Estate in the Midlands. The deal reflects a 6.25% yield.
Maud is also in negotiations to sell the Hadden portfolio, which he placed on the market through CBRE in March.
Main buildings being sold include: an Ernst & Young office in Farringdon, London EC1; EMC Tower in Brentford; a BHS shop in Camberley; and a UGC cinema in Dundee.
References: EGi Legal News 19/12/05
