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Purchase for £21m of a highly granular portfolio of 44 largely vacant former bank branches following a restricted marketing campaign
A delayed completion allowed back to back sales and lettings of many of the assets to be progressed
Limited value applied to upper parts by the seller
Transaction Progress
Active programme to lease and sell ground floor premises as well as to take advantage of value in ancillary space in the upper parts for residential and other uses
Current Status
18 assets sold materially ahead of business plan
All bar 10 of remaining assets either let or in solicitors hands at an overall ERV ahead of underwriting