Aprirose seeks buyer for UK commercial portfolio

Aprirose has appointed Knight Frank to sell a £75m mixed-use commercial property portfolio. The portfolio comprises nine properties providing a total of 308,816 sq ft of alternative accommodation, industrial, office, health and retail space across the UK. It includes the Clydesdale Bank Data Centre near Glasgow; Stephenson House, a purpose-built warehouse in Hamilton International Park, and the fully let office building Enterprise House in Lincoln. The average lease length is more than 12 years. The proposed price would reflect a yield of 6.67% with rents totalling over £5m. The portfolio has an average lot value of £8.36m. Shaun Roy, Knight Frank partner, capital markets, said: “This portfolio offers an exceptional opportunity to invest in a diverse range of assets that have excellent long-term income returns, with six of the nine assets subject to fixed rental increases. Coupled with the covenant strength of the tenants, this income profile offers an easily geared and highly defensive return structure.” To send feedback, e-mail Louise.Dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette