NW banks among £475m Trillium portfolio for sale
Telereal Trillium has appointed CB Richard Ellis to sell the Oak Portfolio of 55 assets including eight in the North West.
The portfolio's buildings are principally let to Royal Bank of Scotland until 2037, with the leases benefiting from annual RPI rental uplifts.
The North West assets are:
- 33-35 King William Street, Blackburn BB1
- 20-24 Deansgate, Bolton BL1
- 46-48 Deansgate, Bolton BL1
- 35 Fishergate, Preston PR1
- 97 Fishergate, Preston PR1
- 1 Kansas Avenue, Salford M50
- 269 Lord Street, Southport PR8
- 23 Sankey Street, Warrington WA1
Graeme Hunter, group property director, Telereal Trillium said: "Following the purchase of this portfolio two years ago we have had regular enquiries from many parties interested in acquiring single assets. Since the summer however, the level of interest in a larger portfolio transaction has increased dramatically and as such we see the time as being right to test the market's appetite for this excellent product."
CB Richard Ellis will be guiding a purchase price of £475m. Over 45% of the income is derived from the London assets.
