18th March 2021
Martin’s Properties, a leading property investment and development company based in Central London and operating throughout the South of England, today announces six sales totalling over £22m as it looks to maximise its purchasing power and continue to expand and diversify its portfolio across London and the South East.
The sales which include three flats, two houses and a mixed-use scheme in Chelsea have been sold as part of Martin’s Properties wider repositioning and ongoing strategy to recycle capital from assets that are not part of the core portfolio and to invest in strategically important locations across London and the South East.
The largest sale, a mixed use building in Chelsea’s Munro Terrace and Cheyne Walk which included residential apartments, offices and a retail unit, sold for £7.35m.
Ross Walker Love, Head of Development, Martin’s Properties comments “The sale of Munro Terrace and Cheyne Walk will enable us to deploy further funds into the redevelopment of some of the assets in our portfolio and to acquire more value-add opportunities. We currently have a number of sites under redevelopment or at planning stage, as we look to maximise the potential of our existing assets and future purchases.”
Richard Bourne, Managing Director, Martin’s Properties comments: “These sales are part of our ongoing strategy to dispose of some non core assets and recycle the proceeds into higher growth areas and activity. Despite the prevailing headwinds, each sale has been achieved at pre pandemic values which highlights the ongoing attractiveness of Chelsea to both UK based and international investors. Further sales are planned over the course of 2021 and the proceeds will bolster our financial firepower as we look to capitalise on acquisition opportunities in the market. We are actively looking to invest up to £30m of equity in a number of opportunities including investment assets with lot sizes of £8-15m across all sectors, corporate purchases, joint ventures and development opportunities.”
For press enquiries please contact: Bronya Heaver, Bronya@maisoncomms.co.uk 07813 680 704