Login to UKBP
Commercial Property News
High street commercial properties sold by joint venture
A joint-venture vehicle has opted to sell three high street retail commercial properties, brining in a total of £15.3 million.
AEW Europe/Tristan Capital partners and Mountgrange Investment Management have agreed to sell the trio of sites to a fund run by CBRE Investors, a global real estate investment management firm that holds $33.7 billion (£21.6 billion) of assets under management.
CBRE Investors was advised on the deal by King Sturge, while Savills assisted the joint venture with its side of the transaction.
The sites that have changed hand are 12-16 Northgate in Chester, which is currently occupied by Miss Selfridge and was sold for £7 million, 16 Packers Row in Chesterfield - priced at £5.2 million - and the £3.1 million 39-40 High Street property in Birmingham.
Commenting on the deal, Mountgrange partner Rob West said he is "pleased" with the move, adding it is part of the joint venture's "projected business plan".
Posted by James Collins
AEW Europe/Tristan Capital partners and Mountgrange Investment Management have agreed to sell the trio of sites to a fund run by CBRE Investors, a global real estate investment management firm that holds $33.7 billion (£21.6 billion) of assets under management.
CBRE Investors was advised on the deal by King Sturge, while Savills assisted the joint venture with its side of the transaction.
The sites that have changed hand are 12-16 Northgate in Chester, which is currently occupied by Miss Selfridge and was sold for £7 million, 16 Packers Row in Chesterfield - priced at £5.2 million - and the £3.1 million 39-40 High Street property in Birmingham.
Commenting on the deal, Mountgrange partner Rob West said he is "pleased" with the move, adding it is part of the joint venture's "projected business plan".
Posted by James Collins
Mon, 23rd Aug 2010