Peill & Company, the PAI member for Cumbria, Lancashire and The Lake District have acquired a portfolio of retail investments on behalf of private clients, the latest in a number of acquisitions for the client, all of which have completed within the last month. The portfolio included investments in Kendal, Grange-over-Sands, Carnforth and Lancaster and Peill & Company’s property management department have also been instructed to manage the properties on behalf of the client.
Simon Adams, Managing Director of Peill & Company commented "We were pleased to secure a range of retail properties on behalf of our client, including 2 which were off market, adding to the portfolio we are building on behalf of the private investor. In one of the cases, the shop was bought vacant and was let within a week of completion of the purchase, which has given the client a double digit returns on capital by taking a view and acquiring part vacant portfolio. Our property management department are now looking after the latest acquisitions, in addition to other assets held for that client, and our building surveying department are dealing with some refurbishment works and schedules of dilapidations on other parts of the portfolio".
Further acquisitions are required for the portfolio and offers have been submitted for two further properties on behalf of the same client.