Landwood sells Burney resi portfolio
A PROPERTY portfolio consisting of 18 houses in Burnley has been sold by Manchester-based asset valuation and recovery specialist Landwood.
The portfolio, which consisted of 18 homes in a variety of locations in the Burnley area, was sold for an undisclosed sum on behalf of the Bank of Scotland for receivers Begbies Traynor.
Landwood director Mark Bailey said the sale shouldn’t be taken as evidence of a recovery in the residential property sector, though.
“While we are delighted to have completed this deal, the market is still very tricky and we believe 2011 will continue to be a very challenging year.
“Deals are being done, but there are still at a much lower level than two years ago. It is a very tough process.”
Landwood was set up by Bailey in October 2008. It provides advice on property, plant and machinery and business assets. Its client base includes insolvency practitioners, banks and specialist lenders.
The firm has also been appointed to sell one of the largest cold storage facilities in the country. The 287,000 sq ft unit at Holmewood Industrial Park in Chesterfield has an asking price of £5m.
The property is split over two levels of 126,000 sq ft each and also has a two-storey office building of 8,000 sq ft. Each level has five dock-level leading doors and racking for 36,000 pallet spaces. It was built in 1997 and can freeze at temperatures of up to -25C.
Landwood has appointed Cushman and Wakefield as joint agents for the coldstore, which is available for sale or to let.
Landwood director Richard Parkinson said: “The sheer scale of the depot makes it a more unusual brief — cold stores of this size and of such recent vintage don’t come onto the market very often.
“It is a purpose-built facility and it is just off the M1, so in terms of functionality and location it ticks all the boxes. We believe it will generate real interest.”
