Chancerygate sells £8.65m portfolio
Posted on: July 14, 2014
Chancerygate has sold a portfolio of four properties to Kames Capital for £8.65m.
The portfolio comprises:
- Cooper House, Kingston: a self-contained 12,398 sq ft office building
- Units 1a, 1b and 2 Kestrel Place, Huntingdon (pictured): a 30,880 sq ft terrace of three self-contained industrial warehouses with 63 parking spaces
- 33 St Peters Road, Huntingdon: a 16,823 sq ft trade counter warehouse
- Units A&B Rother Way, Euroway Ind. Estate, Rotherham: two production and warehouse units with a two storey office block totalling 92,161 sq ft
- The current income from the properties totals £732,500pa and the sale reflected an initial yield of 8%.
Chancerygate Managing Director, Eddie Cook, commented: “This sale forms part of a phased liquidation of the Budding Portfolio acquired by Chancerygate in 2008 and is in line with our planned strategy.
The current appetite for stock of this nature has enabled us to conclude a timely exit and we are pleased that this portfolio sale - together with earlier sales at very keen prices - has allowed us to return a healthy distribution to the investors.
Further sales from this portfolio will be made on conclusion of asset management initiatives.”
Allsop advised Chancerygate in the sale. Savills acted for Kames Capital.