MARCOL completes £51million worth of deals in the UK
6 July 2010
MARCOL has just completed on £51m worth of deals in the UK, including the sale of three assets and reinvestment in three new properties in Central London and Manchester.
Sales have been completed of Imperial Buildings, on Kingsway in London’s Midtown, the Denby Pottery distribution centre in Derby and the Bodyshop International complex at Wick in Littlehampton. The sales have raised over £30m for MARCOL, resulting from intensive asset management initiatives, refurbishment and lease re-gearing.
The new Central London stock comprises Priory House, St John’s Lane, and 18-25 Britton Street, both in the Clerkenwell area where MARCOL believes there are excellent prospects for future growth.
In Manchester, the acquisition of the 100,000sq ft West Point office tower in Old Trafford has just completed and a programme of refurbishment and re-letting will be implemented.
The agents acting for MARCOL were Michael Elliott, Fisher Hargreaves Proctor, M3 and Hamilton, though no agents were involved for the acquisitions of Britton Street and West Point.
MARCOL has further funds available for immediate investment in Central London.