Shaftesbury Capital has reportedly hired agent CBRE to manage the sale of its properties in London’s Fitzrovia area, with a value over £100 mln (€117 mln).
According to UK press reports, the portfolio spans over 100,000 sq ft (9,300 m2) of properties around Goodge Street and Charlotte Street, comprising 28 hospitality and leisure units, 11 office spaces and seven retail units.
The news follows Shaftesbury Capital’s announcement last month that it has signed an agreement with Aviva Investors for a new 10-year loan of £200 mln, secured against a portfolio of assets within the Carnaby estate.
The facility will sit alongside the existing secured term loans with Aviva Investors of £130 mln and £120 mln maturing in 2030 and 2035 respectively, which share in the asset security of the Carnaby estate. The additional financing has been priced with reference to 10-year UK gilt yields and when blended with the existing Carnaby term loans, the annual cash interest rate in respect of the overall amount of £450 mln of secured term loans with Aviva Investors will be 4.7%.
