On behalf of Commercial Estates Group, Savills successfully completed the sale of the M Portfolio to Blackstone and M7 in August 2018 for £61.5m, reflecting a 6.3% NIY.
The six multi-let estates were located across the Midlands and the North of England, with total GIA at 986,735 sq ft.
The portfolio is now let to 98 tenants, offering a broad and diverse range of occupiers including Nikon, DPD, Kuehne + Nagel and Virgin Wine Online. The passing average rent was very low at £4.20 psf overall, with an estimated rental value across the portfolio of c.£5.04 psf.