Telereal Trillium, the UK-based property investment firm, has agreed to sell 55 UK commercial properties, principally let to the Royal Bank of Scotland, to test investor appetite for larger portfolios, reported Reuters.
The flagship assets in the portfolio include Coutts headquarters on the Strand, Drummonds’ headquarters on Trafalgar Square and Child and Co headquarters on Fleet Street.
Reportedly, Telereal, fully owned by the Pears family, has appointed CB Richard Ellis to advise on the sale, with a guiding price of $758m for the property portfolio.
Graeme Hunter, group property director of Telereal Trillium, said: “Following the purchase of this portfolio two years ago we have had regular enquiries from many parties interested in acquiring single assets. Since the summer however, the level of interest in a larger portfolio transaction has increased dramatically and as such we see the time as being right to test the market’s appetite for this excellent product,” reported the news agency.
