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News Release

London

The Flagstaff Portfolio


Jones Lang LaSalle has been instructed to market a mixed portfolio of commercial properties on behalf of joint LPA Receivers, appointed by Lloyds Banking Group. This is the first property portfolio aggregation of its kind.

The Flagstaff portfolio comprises a diverse range of UK properties across various sectors including: office, leisure, retail and industrial. 

David Emburey, joint head of National Investment at Jones Lang LaSalle, said: “This portfolio presents the opportunity to purchase a balanced portfolio with an attractive net initial yield.  It is unique as the properties have never been under common ownership providing purchasers with immediate economies of scale and further asset management opportunities across the portfolio.”

The Flagstaff portfolio comprises 38 assets totalling three quarters of a million sq ft with a guide price in excess of £60m reflecting a net initial yield of nine plus per cent.   Around half of the assets by income are located in the south of England, with the remainder located across the midlands, northeast, northwest and Wales.  The portfolio boasts a strong line-up of tenants with a low vacancy rate of under four per cent. Three quarters of the portfolio is freehold with an overall weighted average unexpired lease term of over eight years.  Approximately twenty five per cent of the income from the portfolio is derived from the UK Government.