Westbrook UK portfolio hits market for £224m
Westbrook has put a multi-sector UK portfolio up for sale for around £224m.
It has instructed Cortex Partners to approach a select number of potential buyers for the 14-strong portfolio of assets, known as “Project Tusk”.
The portfolio totals 2.7m sq ft of floorspace.
Westbrook has been amassing the portfolio since 2011. It is targeting overseas and UK investors looking to take advantage of an existing platform as a means to enter the UK real estate market
The portfolio includes 12 freehold and two long-leasehold properties, with the majority in London and the South East.
The 117 tenants in the properties contribute to a passing rent of £16.2m per year. The guide price reflects a 6.8% net initial yield and a capital value of £83 per sq ft.
The portfolio has a vacancy rate of 2.19%.
The portfolio in full:
- 6 Lloyd’s Avenue, London, EC3
- Clockwork, 45 Beavor Lane, Hammersmith, London, W6
- Alpha & Beta, Springfield Drive, Leatherhead Office Park
- The Summit Centre, Sunbury on Thames
- Waterborne Walk Shopping Centre, Leighton Buzzard
- Thamesgate Shopping Centre, Gravesend
- Interchange Park, Newport Pagnell
- 28-34 Greenhill Crescent, Watford
- Units 1-8, Walker Industrial Estate, Blackburn
- Trident Trade Park, Cardiff
- QRL Group Unit, Imperial Park, Newport
- Kayley Industrial Estate, Ashton
- Cummins warehouse, Manston, Kent
- Units A-C, John Tate Road, Foxholes Business Park, Hertford
To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette
Westbrook has put a multi-sector UK portfolio up for sale for around £224m.
It has instructed Cortex Partners to approach a select number of potential buyers for the 14-strong portfolio of assets, known as “Project Tusk”.
The portfolio totals 2.7m sq ft of floorspace.
Westbrook has been amassing the portfolio since 2011. It is targeting overseas and UK investors looking to take advantage of an existing platform as a means to enter the UK real estate market
The portfolio includes 12 freehold and two long-leasehold properties, with the majority in London and the South East.
The 117 tenants in the properties contribute to a passing rent of £16.2m per year. The guide price reflects a 6.8% net initial yield and a capital value of £83 per sq ft.
The portfolio has a vacancy rate of 2.19%.
The portfolio in full:
6 Lloyd’s Avenue, London, EC3
Clockwork, 45 Beavor Lane, Hammersmith, London, W6
Alpha & Beta, Springfield Drive, Leatherhead Office Park
The Summit Centre, Sunbury on Thames
Waterborne Walk Shopping Centre, Leighton Buzzard
Thamesgate Shopping Centre, Gravesend
Interchange Park, Newport Pagnell
28-34 Greenhill Crescent, Watford
Units 1-8, Walker Industrial Estate, Blackburn
Trident Trade Park, Cardiff
QRL Group Unit, Imperial Park, Newport
Kayley Industrial Estate, Ashton
Cummins warehouse, Manston, Kent
Units A-C, John Tate Road, Foxholes Business Park, Hertford
To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette
