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GCW delivers on acquisition advice for APAM

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GCW capitalised on its retail property expertise to secure a £51.3 million portfolio of prime high street shops, in dominant retail centres with asset management opportunities for Varde Partners and its joint venture asset management partner APAM.

US-based Varde purchased the Toucan and Peacock retail portfolios from Royal London Asset Management. The two portfolios were marketed separately and comprised of 14 properties with an annual rent approaching £4 million.

GCW secured both the portfolios with one offer in a competitive bidding situation and provided comprehensive pre-purchase due diligence. The two funds have different characteristics and sit well together. The Peacock range of properties offers well-let, secure income and the Toucan portfolio offers income from premium shops in very good towns.

GCW used its expertise to set out a business plan for each asset which included some sales.

Following the acquisition GCW has handled lettings when required and agreed a number of sales for a significant profit, seven months after acquisition. The sales included prime shops in Reading, Lincoln, Colchester and Cardiff for a combined total of £16.58 million.

Contacts

  • James Pearson
    • 020 7647 4817
    • 07817 410 361
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