Portfolio Sales Asset Support
Project Overview
UK Logistics Portfolio Sale
Location: London, Sheffield, Salford, Crewe, Liverpool
Duration: April '24 - July '24
Client: PLP
Project Highlights
Provided technical due diligence and asset support for the sale of a portfolio of five best-in-class industrial and logistics assets located in prime strategic locations across the North West and Yorkshire. The commission focused on accelerating the resolution of buyer enquiries, protecting asset value and supporting a successful portfolio transaction totalling approximately 890,000 sq ft.
The Challenge
The transaction involved multiple assets delivered over a number of years, with some developments approaching a decade in age. Technical enquiries were submitted by multiple buyer representatives in varying formats, with differing levels of detail, priority and relevance. Both parties were targeting an accelerated completion date, making timely responses critical. Compounding this challenge, many of the organisations and individuals involved in the original developments had changed, merged or ceased trading, making information retrieval more complex.
Our Solution
Our founder undertook a secondment into PLP to provide specialist construction and technical support throughout the sale process. Leveraging direct project knowledge and extensive experience across the development supply chain, we rapidly assessed incoming enquiries, established priorities and coordinated responses across stakeholders, consultants and contractors.
To maintain momentum, we developed a structured query tracker recording ownership, source, response status and target resolution dates for every enquiry. By proactively addressing technical construction matters ahead of legal, tax and property enquiries, we created a clear pathway to transaction completion and minimised delays during due diligence.
The Outcome
Technical construction queries became the first area of due diligence to be fully resolved, followed closely by property, tax and legal matters. The structured approach enabled all open issues to be addressed within the required timeframe, supporting a swift and efficient transaction process.
The portfolio was successfully acquired by KKR-Mirastar as part of its continued investment in the UK logistics sector. The transaction included five assets across Sheffield, Salford, Crewe and Liverpool, totalling approximately 890,000 sq ft, with the portfolio 80% let and a weighted average unexpired lease term to break of 10 years. The successful sale returned liquidity to Ivanhoé Cambridge and was regarded by both parties as a smooth and mutually beneficial outcome, demonstrating the value of proactive technical due diligence and stakeholder management in protecting asset value and reducing transaction risk.
Gallery
Browse these images to explore more details.
Client Testimonial
“PLP continues to leverage third-party institutional capital across its flagship managed venture series and a number of separate managed accounts to acquire and develop the next generation of prime logistics assets across major UK markets.”
KKR and Mirastar were advised by DTRE. PLP was advised by CBRE.
Contact us today to see how we can help you thrive.
At Langton Development Services, we specialize in providing expert consultancy and comprehensive support for asset sales. Whether you’re looking to optimize your investments or navigate complex transactions, our dedicated team is here to assist you every step of the way.
Reach out to us today to discover how we can help you achieve your financial goals.
