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Guy Hands, owner of Terra Firma and an industry-leading investor, has been named as an interested party for the purchase of a huge property portfolio currently owned by Network Rail and valued at £1bn.
The portfolio is made up of 5,500 properties located across England and Wales and generates millions of pounds in rent every year. In November 2017, Network Rail announced that it was bringing the portfolio to market in the hopes that its sale will bring in considerable funding for its extensive upgrade programme.
Rothschild Investment Bank has been appointed to carry out the sale and expects to receive about 20 bids from other large companies, including real estate investor Blackstone, funds owned by Goldman Sachs, and Telereal Trillium.
Speaking about the sale, Mark Carne, Network Rail’s Chief Executive, says; “This deal will bring more investment into the commercial estate for the benefit of the local communities and it will help fund a better railway.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.