Hockenhull Estates sold for £1.8m
HOCKENHULL Estates, a property investment company which owns nine commercial properties in Cheshire, has been sold to quoted investment vehicle Palace Capital plc in a £1.8m deal.
Hockenhull Estates is registered in the Isle of Man but its portfolio of retail and office units are all either in Nantwich or Crewe.
The company was built by founder Frank Hockenhull over a 40-year period and is managed by another of his firms, FH Properties. The portfolio of properties was initially marketed in October last year at a price of £2.35m.
A statement from Palace Capital’s board said the company believed that “significant opportunities for growth exist within the UK secondary property market and in particular with private property companies”.
It said that it planned to acquire other secondary freehold or long leasehold properties offering good cash flow, particularly outside of London.
