First Investments News: UK office space & property management

25/05/2006 - First Investments Ltd expand their Property Portfolio

First Investments Ltd is pleased to announce further expansion of its UK property portfolio.

The deal has expanded the First Investments Portfolio to in excess of £500 million and it is now operating 7 million sq ft of office, industrial and retail sites.

In all there are 13 sites and the deal covers 349 individual properties in Bolton, Central London, Brentford, Tunbridge Wells, Swindon, North Wales, South Wales, the Midlands and Wirral. The most prominent is 60,000 sq ft, Phoenix House in London EC4 a prime city location, and this building changed hands for close to £20m.

The scale and spread of this deal made it a complex one to structure. However, First Investments have an experienced in-house team and the ability to move quickly to seize good opportunities.

The company is currently putting together some sizeable deals and has the appetite for more significant asset management opportunities wherever those are available in the UK.

First Investments’ ambition is to build the groups property investment holdings to over £1bn.