EE Portfolio

Lymedale Business Centre, Hooters Hall Road, Newcastle, UK

Overview

The portfolio comprises five properties throughout the UK;

  • Fareham
  • Newcastle Under Lyme
  • Bromborough
  • Glasgow
  • Darlington

EE wanted to dispose of a number of their freehold telecommunication switching stations which were operationally redundant.  All of them were originally detached industrial / warehouse buildings with their own yards which had been extensively fitted out as data centres. The buildings ranged from 15,000 to 22,000 sq ft.

EE got a fixed price per property and was able to occupy each one until they were no longer needed operationally.

The properties were substantially refurbished and converted back to industrial / warehouse units to provide properties that industrial and warehouse occupiers require. Chancerygate used their in house project management team to oversee the refurbishment.

The properties were offered on a for sale and to let basis.  The occupiers ranged from; logistics company, manufacturer to food production.  The low void periods show that the right product was supplied into the local markets.

Chancerygate used their network of local agents to advise on the acquisition and then reinstructed them to let or sell the properties.

The deal was financed solely by Chancerygate and produced a 123% ungeared IRR return.

© Chancerygate 2022 | Chancerygate Limited is a limited company registered in England and Wales with registered number 03699100 and VAT registered number 123 3289 34. Our registered office is at 12A Upper Berkeley St, Marylebone, London W1H 7QE
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