Disposal of 42/44 Clarence Street, Kingston Upon Thames and 19/20 Union Passage, Bath
Our client, Guy’s and St Thomas’ Charity (c/o Cushman and Wakefield Investors), needed to raise capital for infrastructure investment within the hospital. C&W were asked to advise on the potential sale of 2 retail assets (42/44 Clarence Street, Kingston Upon Thames and 19/20 Union Passage, Bath)
Both assets were good quality, prime units and accordingly we advised that the best method of sale would be a targeted private treaty marketing campaign. C&W was subsequently instructed on the sale of both assets. We marketed the assets for 4 weeks ensuring appropriate coverage of the investment market, utilising our extensive connections within the agency and investor communities.
There was a significant level of interest in both assets and accordingly we advised our client to conclude the marketing by calling ‘best-bids’. We subsequently agreed a deal with Hampshire County Pension Fund c/o CBRE Global Investors. Our client was delighted with the excellent result, which was achieved in spite of the difficult market conditions.