Press Release (ePRNews.com) - Feb 02, 2017 - The property comprises a mixed retail, office and residential holding in a prime location on Milsom Street and has an overriding lease to Santander UK plc, which expires in March 2018.
Michael Toft, Senior Fund Manager and Executive Director of Lothbury Investment Management said: “With the imminent expiry of a long lease, the property would have required capital expenditure and reconfiguration. We have realised a price above valuation, which crystallised the latent value without taking the refurbishment and void risk. This supports our strategy to maintain exposure to liquid assets on prime high streets.”
Milsom Street has been part of the Lothbury portfolio since 2000.
Carter Jonas acted for Lothbury; Harper Dennis Hobbs acted for the purchaser.
Notes for editors
· Lothbury Investment Management Limited (LIM) is an independent UK real estate investment manager with £1.85 billion assets under management, as at Q3 2016.
· The LIM Senior Fund Management team has worked together for almost 20 years and has a track record of delivering outperformance for investors.
· Lothbury Property Trust (LPT) is the flagship fund for LIM, providing investors with access to the UK property market. In addition, LIM manages the Clarendon Unit Trust and the Secure Income Portfolio.
· As at 31 December 2016, Lothbury Property Trust holds £1.54 billion assets under management and is a balanced property unit trust providing exposure to the UK office, retail, industrial and ‘other’ sectors and is geographically spread across the UK.
· The Fund delivers an innovative investment solution through a core/active strategy that comprises a predominantly core portfolio of prime assets to achieve stability of return combined with active management initiatives to create additional value and an enhanced return for the investor.
· The Lothbury Property Trust has achieved a GRESB “Green Star” status.
· More information on LIM and LPT can be found at www.lothburyim.com. Source :
Lothbury Investment Management