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News Release

Birmingham

JLL looks to bank £20 million

as it goes online to sell significant property portfolio


BIRMINGHAM November 7th, 2017 – The Birmingham office of JLL is working with leading auction house John Pye Property to bring an investment portfolio of seven Halifax bank buildings to the market with a combined guide price of £19.175 million plus.

The branches located in Brighton, Chelmsford, Colchester, Darlington, Liverpool, Mansfield and Reading. All remain open for business.

The properties will be sold by JLL as LPA Receivers during a two-day on-line auction taking place on 15 and 16 November.

Simon Hunt, the Joint LPA Receiver from JLL's Real Estate Workout Team said "This is a significant portfolio of blue chip investment properties to come to the market which will generate strong interest from a wide range of UK and overseas buyers. We are keen to harness the online auction technology to achieve the best sale price for the assets and I am very much looking forward to some fantastic outcomes for our lender client."

Simon added: "All seven properties are located in prime high street positions. The Halifax banks have approximately five years remaining on the leases, with gross yields ranging from 5.5% to 9.7%."

Visit www,johnpye.co.uk/property-auctions to find out more or phone 0115 970 6060.