Location: UK, various
Acquisition Date: 2003/2004
Purchase Price: £16.3m
Equity: £3.5m
Portfolio: Mixed (5 buildings)
Status: Sold, £20.37m
This was an opportunistic value acquisition with assets in five separate locations, each offering strong cash flows and fundamentals to attract good leverage. We increased below market rents, improved the management and presentation of the stock and maximised sales value by returning to the market a newly stabilised and much improved asset.