Green profits increase 51%
Anglo-Irish Green Property, which last month won a £146mhostile takeover bid for Trafford Park Estates, has posted a 51% rise inhalf-year pretax profit to IR£8.5m. The results, for the six months to June, do not show the impact of the acquisition.
PP in voluntary liquidation plan
Property Partnerships, the small family-run Norfolk-based company, is planning voluntaryliquidation following the £21m sale of most of its assets to a joint venture between GE Capital and Equity Estates. Property Partnerships intends to return money from the sale to its shareholders through a specialdividend before winding the company up.
Ashtenne buys £9.2m of units
Industrial specialist Ashtenne has bought 11 multi-let properties for £9.2m in Wales and England. The deal brings Ashtenne’s total purchases so far this year to £26.8m and its rent roll to just over £1m pa. Yields on the industrial units range from 10.7% to 12.9%.
Benchmark pares London exposure
Benchmark has sold five properties for £30m to pare down its retailexposure in London. Joint chief executive Nigel Kempner said that Benchmark made a £5.6m profit on the sale, which included shops in South Molton Street, W1, and Bayswater, W2.
