Market return for veterans

Tops Estates founder Everard Goodman and Tony Khalastchi have become the latest of the old guard of property investors to head back into the market.   Goodman, who sold his Tops Estates business to Land Securities in June 2005 for £517.2m, is understood to be the unnamed private investor behind the £31.5m purchase of Boultbee’s 100,000 sq ft Marketgate shopping centre in Lancaster. The sale price reflects an initial yield of 5.76%.   Khalastchi, who has previously invested with the William Pears family, has teamed up with LaSalle Investment Management managing director Charles Maudsley to buy a portfolio of four retail warehouses from British Land.   LIM’s UK Ventures Fund and Khalastchi are paying around £36m – a circa 6% yield – for the 130,000 sq ft Seymour Portfolio.   The portfolio had been marketed at £60.8m, but one of its largest warehouses, a 33,000 sq ft unit in Bath, was removed from the sale.   The acquisitions come as a number of private property players – who virtually disappeared from the UK market during the boom – are preparing to re-enter the market. They include former Pillar Property founder Raymond Mould.   Michael Elliott advised Boutlbee; Franc Warwick acted for Goodman; Savills advised British Land; and Lewis & Partners represented Khalastchi.   joanne.payne@rbi.co.uk