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Thursday, December 20, 2023

Glenstone Property and Frankton House acquire 17m UK portfolio

Glenstone Property Investments and Frankton House, advised by Kitchen La Frenais Morgan, have purchased a portfolio across the UK of retail premises from clients of CBRE Investors for 17m.

The portfolio comprises 9 units in locations including Norwich, Scarborough, Skipton, York and Loughborough. Current tenants include Next, Phones 4 U, Orange, Moss Bros, Waterstones and Woolworths.

Rupert Guy of Kitchen La Frenais Morgan comments: "With excellent high street locations and first rate tenants in place, there is considerable potential for active asset management of these properties."

The portfolio is one of a number of acquisitions currently being looked at by Glenstone Property Investments and Frankton House, who have a further 30 million ready to be invested.

Rupert Guy continues: "Glenstone Property Investments and Frankton House are looking to buy at a time when there is a great number of opportunities in the retail sector, where there are plenty of towns with potential for rental growth."

Cushman & Wakefield and Leslie Furness acted on behalf of CBRE Investors.