A property company backed by National Car Parks founders Sir Ronald Hobson and Sir Donald Gosling is selling a £160m mixed-use portfolio to Orchard Street Investment Management.
Alhambra Properties instructed BNP Paribas Real Estate to sell the seven-strong South East portfolio in June, with the asking price reflecting a yield of 5.3%.
The mixed-use portfolio has an average unexpired term of 17 years, and a rent roll of £8.7m.
It includes a 575,000 sq ft shed let to Tesco in Essex; five offices totalling 230,000 sq ft, including Affinity Water’s office on Hatfield Business Park and the British Standards Institution’s Kitemark Court in Milton Keynes; and a retail complex.
Ex-servicemen Hobson and Gosling sold NCP in 1998, and have since also sold off their Metrose Property and Consolidated Property Investments ventures.
Other Alhambra directors include a string of current and former NCP directors, including Gordon Layton, George McLean, Clair James and John Flack.
