Investment/finance | Estates Gazette
Leicestershire-based Marlborough Property Co has bought a portfolio of Marks & Spencer shops in London for £122.5m.The portfolio comprises 11 M&S shops, including Camden, Chiswick, Clapham, Kilburn and Putney.
The off-market deal forms part of a sub-sale from US firm Fortress Investment Group’s purchase of Topland’s £450m M&S portfolio, which completed in September. M&S still has more than 10 years remaining on its leases and has an option to extend for a further 40 years on expiry. A number of the stores have large development potential.
Kieran D Cotter & Company acted for Marlborough; HP Four advised Fortress Group.