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.
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.
<< Latest news main page