BMO Real Estate Partners (BMO REP), on behalf of a segregated mandate client, has sold three UK assets as part of its plan to redeploy capital into new income and growth assets.
The manager said it has completed the disposal of three assets for a total consideration of £53.2m (€60.3m).
BMO REP sold a 240,600sqft industrial unit in Bridgwater, Somerset, to sub-tenant EDF Energy for £16.3m.
The second disposal is of a freehold 90,000sqft purpose-built and fully enabled data centre set on a 3.4-acre site on the Aztec West business park in Bristol, sold for £8.8m. The property has been owned by clients of BMO REP since it was developed in 1992.
The third disposal is of St Marks Court, a 145,000sqft freehold office building located in Horsham, which was sold for £28.2m. The asset was originally acquired by clients of BMO REP in 2014, who previously owned and sold the building.
Matthew Howard, a director of property funds at BMO Real Estate Partners said: “These strategic disposals follow a review of the portfolio where we believed it was an opportune time for us to realise the value created from each of these mature assets.
“We will be redeploying the capital into new income and growth assets where we see attractive long-term prospects to continue generating value on behalf of our client.”
