Leading UK Estate Agent Confirms Sale of 13-Property Portfolio in £34 Million Transaction
Boultbee Brooks Real Estate
Online PR News – 30-July-2014 – London – Boultbee Brookes Real Estate is proud to announce the completion of a £34 million property portfolio sale, having passed 13 properties to an undisclosed UK buyer. Launched in March this year by property entrepreneur Clive Boultbee Brooks, the estate agent has performed consistently and impressively in London and the surrounding regions.
Starting out with a 39-property portfolio amounting to a combined 1.3m sq ft, Clive Boultbee Brooks has outlined the company’s plans to expand considerably over the coming years. Having expressed interest in a variety of residential, industrial, retail and commercial acquisitions, BBRE is primed to continue its already impressive expansion throughout 2014 and beyond.
A Significant Portfolio Sale
"We are very pleased with the outcome of this sale. Northcote is a portfolio of properties across various locations throughout the UK. Selling the portfolio will enable us to use the proceeds to pursue additional activity within the UK market which is more aligned with our strategy." – Clive Boultbee Brooks
The company’s Northcote portfolio which was handed over in the £34 million sale consisted of 13 units in a variety of locations outside the capital. It consisted of a mixture of industrial units, retail outlet, office and leisure facilities spanning the UK as far as York, Southampton, Norwich, Oxford and Edinburgh. Boultbee Brooks Real Estate teamed up with Aurum Real Estate to oversee the transfer.
Along with his primary real estate venture, the managing director of Boultbee Brooks Real Estate also continues to operate the Boultbee Land company, which was created in partnership with his brother 27 years ago. The estate agent is described by Clive as an "active and well-funded property company with a strategy of making quick transactions in a market which is undergoing considerable changes."
As for the rest of 2014, Mr. Boultbee Brooks admitted that he’d ideally like to invest upward of £100 million in the second half of 2014, though stated that the market as a whole was becoming more difficult.
"I'm dipping my toe back into Europe. We sold our last European assets in 2010, but I'm now beginning to look at opportunities again. I'm doing a small resi deal in Germany at the moment, but I'd expect a more substantial return to European acquisitions in the next two years." - Clive Boultbee Brooks
Mr Brooks also announced in early July a somewhat spectacular return to the European property market, which he expects to complete within the next two years. He spoke of the more agreeable and realistic returns European assets can offer in comparison to the current state of play in the UK.
"There needs to be a significant margin between the UK and the rest of Europe to justify investment because of the additional hurdles, like the different planning systems and tax structures. The additional cost of bureaucracy needs to be justified with a better return. So if you're looking at a 15% return in the UK, we'd be looking at 18% to 20% in the rest of Europe. Those returns are more realistic now." - Clive Boultbee Brooks
About Boultbee Brooks Real Estate
Boultbee Brooks Real Estate is an entrepreneurial, family-owned company led by Clive Boultbee Brooks. Clive has an impressive track record spanning over 27 years, having transacted over £5 billion in the UK and Europe. With significant funding available, the company is able to progress transactions quickly. Whilst many investments made are independent, Boultbee Brooks Real Estate is always interested in developing existing and new partnerships with financial institutions, funds, property companies and high net worth individuals. See http://www.boultbeebrooks.co.uk/ for more information.