Commercial Property News

Our magazines are published bi-monthly with in-depth features and news for the commercial property industry. On this page we have the latest news to keep you constantly updated on the market. On the left hand side of the page you can search our archived news which is stored monthly.

Thursday, February 15, 2024

UK Commercial Property Trust acquires Phoenix portfolio for 503m

UK Commercial Property Trust Ltd, a new, closed ended, Guernsey registered investment company on 20 September 2023 acquired initial property portfolio from Phoenix & London Assurance Limited and Phoenix Life & Pensions Limited for aggregate consideration of 503.6m. The properties were externally valued as having a market value of 497.8m, generating a current net annual rent of 24.4m.

The initial property portfolio comprised 20 properties forming a diversified portfolio of UK Commercial Properties. Maples Teesdale acted for the sellers and Dickson Minto and Walker Morris acted for the new company.