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Acquisition of national industrial portfolio for SWIPPT and Centurion Properties


Alex Carr

The industrial sector saw an increase in transactions during early 2011. Scottish Widows Investment Partnership Property Trust (SWIPPT) and Centurion Properties were keen to invest in industrial property given the sector’s strong performance.

Having acquired a Redditch estate on their behalf for £6.4m a few months earlier, we subsequently introduced a national industrial portfolio, being sold by St Martin’s, several weeks before it came to the open market.

Second largest multi-let national portfolio in 2011

The portfolio provided an ideal investment given the multiple opportunities to add value through intensive asset management - most notably through letting of the void, scope for refurbishment, and lease opportunities with existing tenants.

Acquired for £60.925m, this was the second largest multi let national portfolio in 2011.

Maximising value through strategic advice

Given the geographical spread of the assets, representatives from our transactional and capital markets teams in our Birmingham, Glasgow, London, Luton and Manchester offices worked as a single team to provide detailed insight into the respective estates.

Latent value was also identified within several estates, enabling us to provide innovative ideas as to how to add value post completion.

Pre-acquisition due diligence minimised risk

Our building consultancy team also identified disrepair and where costs could not be recovered from existing occupiers. They also identified legal issues that needed to be checked prior to an exchange of contracts.


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