We advised on the £417.5m sale of a listed property trust with 91 UK wide properties

As part of a tactic to achieve a premium to net asset value of its property portfolio, the UK Balanced Property Trust (UKBPT), advised by Cordatus Partners, asked us to provide an indicative figure which could be achieved for the 91 properties within the Trust Having co-ordinated a UK-wide response from our regional offices and sector specialist departments, the Savills Edinburgh investment team provided the valuation within 48 hours. Within the constraints of an extremely tight timescale, set in the context of what amounted to a takeover bid for the listed trust, UKBT agreed to an early and swift, targeted sales process.

GE Real Estate was chosen as preferred bidder and the sale of the company incorporating the portfolio was finalised at £417.5m, in Scotland’s largest commercial property transaction of 2007.

One of the investments which formed part of the sale comprises 67/70 North Street and 14/18 Market Street, Guildford, a corner block of five retail units arranged over two floors. The property is let to tenants including East, French Connection, Starbucks, The Carphone Warehouse and The Clinkard Group on full repairing and insuring terms with an average unexpired term in excess of 13 years.

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