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.
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.
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