DTZ brings Lone Star industrial to market
More than 350,000 sq ft of industrial assets in Deeside and Bolton have been put on the market, as part of the £215m sale of a multi-let UK portfolio.
DTZ has been appointed on behalf of LPA Receivers to market 12 industrial and logistics assets, known collectively as the Ocean portfolio, alongside Fradley Park in Lichfield.
The 250,000 sq ft Blackrod Estate in Bolton produces an annual rent of £377,000, and the 100,000 sq ft Deeside Industrial Estate in Cheshire produces a rent of £270,000. As part of the portfolio, there is 8.3-acres of development land at Deeside also up for sale.
Other assets in the portfolio include Follingsby Park in Gateshead, four assets in Leeds, two in York which include York Business Park and properties at Clifton Moor, Swinderby Industrial Estate in Lincoln, and a large distribution unit at Swift Park, Rugby.
The Ocean portfolio and Fradley Park generates a combined rent of £15.6m a year.
DTZ's Charles Howard, Tim Cameron-Jones and Jason Winfield are advising on the sale.
The assets are part of a non-performing former Eurohypo loan portfolio bought by Lone Star in July 2013. Lone Star's loan servicing division Hudson Advisors then appointed DTZ as fixed charge receivers.
