Riverside Capital has sold all properties in its Travis Perkins Portfolio for £38.25 million.
The properties in Blythe Bridge and Glossop have been sold to Merchant Properties Limited (“MPL”) for a total of £2.86 million.
The remaining 17 properties in the portfolio have been sold to a US long income REIT for £35.39 million.
The sale of all properties, amounting to a total of £38.25 million in capital receipts, is significantly higher than the last formal property valuation of £35.48 million.
Originally purchased by Riverside Capital investors in November 2015, the sale will generate an overall return to investors of circa 6.5% IRR.