Greenridge Investment Management is bringing a portfolio of five commercial real estate assets, with a total value of €33.6m (£30m), to the market.The portfolio includes four large office blocks and one retail unit, all of which have existing long-term tenancies in place – ranging from eight to 49 unexpired, offer net yields of over 5.75% and are located throughout the UK.
Two of the office blocks are leased to The Secretary of State for the Environment, with the other two blocks leased to a local council and a subsidiary of Samsung C&T. The city centre retail unit is let to the Arcadia Group.
Greenridge director, Bik Bhuptani, says: “Long let commercial real estate in the UK regions is attracting a lot of interest from investors around the world. As a business, we have over €785m (£700m) worth of assets under management and are always looking at how to maximise portfolio returns for us and our co-investors. As well as profit-taking on some disposals, we are also actively searching for new acquisitions with which we can reinvest the funds freed up from these sales, along with additional resources.”