M7 Sells Pennywell Road, Bristol for Housing

19 September 2018

London, 19 September 2018 - M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has recently sold a vacant industrial building of circa 89,652 sq ft in Bristol on behalf of a major financial fund. Pennywell Road was leased to Aviva who had not been in occupation for a number of years. A comprehensive surrender premium covering all liabilities was agreed by M7 who took vacant possession of the premises.

The units were awkward in configuration with limited circulation space, poor eaves height and a substantial mezzanine floor of mostly concrete construction. Any works to bring the units into a marketable state would have involved substantial expenditure that would not deliver the requisite rents. A marketing appraisal and asset management strategy was therefore undertaken which identified an alternative use as a residential development site delivering an enhanced value over its existing use as an industrial estate.

Following a very short marketing period a ‘Best Bids’ tender process was undertaken to identify a preferred purchaser and an unconditional sale was subsequently agreed with Investin PLC for £4.15m.

James Chasen, Asset Manager at M7 commented, “This sale, four months after taking vacant possession, demonstrates our ability to realise additional value through identifying a higher alternative use that had been missed previously on an effectively redundant building. We were delighted to have worked with Investin PLC to help deliver an important housing site for this area of Bristol.”

M7 was represented by Russell Property Consultants and Knight Frank.

M7 acquires Westlink Industrial Estate Dublin for €13.9 million

5 December 2018

London, 5th December 2018 – M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has purchased Westlink, a large multi-let industrial estate on the Kylemore Road, Ballyfermot, Dublin 10 in the Republic of Ireland, on behalf of an M7 managed fund. The asset has been acquired from a private investor in an off market transaction for a total of €13,870,000, which equates to €72.36 psf and reflects a Net Initial Yield of just under 7%. read more

M7 completes 62,000 sq ft of lettings in Colchester

28 November 2018

London, 28th November 2018 - M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that, acting on behalf of a major institutional fund, it has completed the letting of a total of 62,000 sq ft, across two units, on Severalls Business Park, Colchester. read more

M7 agrees sale of pan-European light industrial portfolio for c.€486 million

26 November 2018

London, 26th November 2018 – M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has reached an agreement along with its joint venture partner, Starwood Capital (“Starwood”), for the sale of MStar Europe for c.€486 million to a global asset management and financial services business. The sale comprises a portfolio of 50 light industrial assets, which will continue to be managed by M7. read more