Martin’s Properties releases £20.3m of Properties to diversify portfolio

Martin’s Properties, a leading property investment and development company based in Central London, operating throughout the South of England, today announces combined sales of properties totalling £20,310,000. The lion’s share of the £20.3m came through the sale of Verney House on Fulham Road for £13.85m (3.85% NIY) to a private investor. Verney House is a multi-let office and retail building totalling approximately 1,413 sq m (15,215 sq ft) with 13 basement car spaces. The property provides an AWULT of 6.5 years to the lease expiry and 3.7 years to the breaks, with just under a quarter of the income secured against Tesco. Martin’s Properties were advised by HSM and the purchaser was advised by Morgan Williams.

The remaining sales included 2 residential apartments in Whitelands House, Chelsea and the sale of a residential property in Kingston Upon Thames. Richard Bourne, Managing Director comments: “The team has worked hard to maximise the value of these assets and we felt now was a good time to dispose of them. We are pleased to be able to release further capital which provides us with a strong platform for further growth and the opportunity to expand and diversify our portfolio. We are seeking to invest in regional markets across the South of England with good rental and capital growth potential, through assets which will offer a mixture of asset management and development in order to deliver our growth aspirations”.

For press enquiries please contact:

Bronya Heaver, Bronya@maisoncomms.co.uk 07813 680 704

Henrietta Harwood-Smith, Henrietta@maisoncomms.co.uk 07866 529 159

2018-07-03T11:43:29+00:00