Catalyst casts off Regatta
Catalyst Capital has placed the Regatta portfolio of assets formerly controlled by tycoon John de Stefano under offer for around £55m – an 8% yield. The portfolio includes de Stefano’s flagship The Brooks shopping centre in Winchester, Henley’s Market Place Mews site and four high-street shops. CBRE and KPMG advised vendor Nationwide. Catalyst was unrepresented.
M&G goes shopping in Ayr
M&G Real Estate has bought the Ayr Central shopping centre in Scotland for £35m – a 6% yield. Sovereign Land and asset manager Ares Management instructed Savills to market the 200,000 sq ft scheme in February. Lunson Mitchenall and Smith Cole Wright advised M&G.
Singaporean City buy
A subsidiary of Singaporean firm Lum Chang Holdings has bought 130 Wood Street, EC2, from Land Securities for £52.6m. The 61,000 sq ft block includes six floors of offices and two of retail. Savills and Charles Russell Speechley advised Lum Chang; Deloitte Real Estate acted for LandSec.
WELPUT heads east
The West End of London Property Unit Trust has made its first purchase in the City as it expands out of its W1 heartland. The Schroders-managed fund will pay Aberdeen Asset Management £22.9m – a 4.4% yield – for Bury House, 31 Bury Street, EC3. GM Real Estate advised Aberdeen; Strutt & Parker acted for WELPUT.
Varde moves on BizSpace
Varde Partners has entered an exclusivity period to acquire flexible workspace platform BizSpace Group along with its 6m sq ft property portfolio and 174 staff for around £135m. The platform was put up for sale by Highcross in February through Savills and PwC in a process dubbed Project Spring.
