Consultancy firm Ernst & Young has appointed Savills to sell two WG Mitchell portfolios in the UK. Savills will advise the administrators, who were appointed on 1 April 2009, on a mixed-use portfolio which comprises 15 properties with an estimated overall value of up to £40 mln (EUR 46.24 mln).
Consultancy firm Ernst & Young has appointed Savills to sell two WG Mitchell portfolios in the UK. Savills will advise the administrators, who were appointed on 1 April 2009, on a mixed-use portfolio which comprises 15 properties with an estimated overall value of up to £40 mln (EUR 46.24 mln).
The portfolio covers a variety of sectors including offices, industrial, retail, leisure and medical centres. Significant properties include 62-66 George Street in Edinburgh, which is currently occupied by Wetherspoons and 18-23 Charlotte Square, also in Edinburgh, comprising a series of stunning Grade A listed town houses.
For the mixed use portfolio, the majority of value lies in the various prime properties within central Edinburgh. In addition, the portfolio includes buildings with strong and established covenants such as Amazon, Carphone Warehouse and local councils.
The second portfolio comprises eight hotel assets located throughout the UK including the 100 bedroom Park Inn in Glasgow, the 111 bedroom Park Inn in Sheffield, a 57 bedroom hotel with bars and restaurants in the North East and a number of Ramada Hotels in East Anglia. The portfolio has a total value estimated at between £30 mln and £40 mln.
