'Hundreds' express interest in Dawnay Day's UK portfolio

Administrator BDO Stoy Hayward said on Tuesday that it has received several hundred of inquiries about the UK portfolio of ailing UK property group Dawnay Day. BDO Stoy Hayward and real estate services firm DTZ are arranging the sale of over 200 investment properties owned by Dawnay Day in the UK. The properties generate an annual rental income of £45mln. The Dawnay Day’s subsidiaries Starlight Investments, Insureprofit, and Dawnay Day Properties control the assets, the administrators added.

'To date, we have had several hundred enquiries from parties interested in the Dawnay, Day UK property portfolio and we have spent some time going through these expressions of interest,' said Shay Bannon, business restructuring partner at BDO Stoy Hayward. 'Although this is likely to be one of the largest property disposals this year, our preferred solution is to dispose of the portfolio to one purchaser; however, we would also consider a sale to a finite number of buyers,' he continued.

'Any interested party who has not been in touch with ourselves or DTZ should now do so immediately, as we will be seeking to draw up a shortlist of purchasers in the very near future.'

Dawnay, Day, a privately-owned group with gross assets of over $4bn, filed for administration in July.