Mercury Portfolio

UK-wide

Sector
Industrial & Logistics, Office, Retail
Size
1.4 million sq ft (15 buildings)
Date acquired
2012
Date sold
2016

Demonstrating active asset management of a mixed-use portfolio

Identifying opportunities for growth – as well as meeting strong demand for office and industrial space – encapsulates the successful rollout of asset management initiatives for our mixed-use Mercury portfolio.

The Mercury portfolio initially comprised 24 assets, nine of which were sub-sold on the day of acquisition for a notional profit of £10.8m. The portfolio was well-balanced, and included office, industrial, retail warehousing and high street retail units located mainly in London and the South East. And because of its size, we were pleased to structure it as a joint venture with a partner, who had complementary aspirations for the portfolio.

Following a complex acquisition, at the core of Mercury’s success was the potential to add real value through active asset management and creative solutions, while bringing significant returns for our investors. We also knew it was essential to tailor capex and undertake a significant refurbishment programme for some units. As a result of this foresight, 250k sq ft  vacancy was let, and assets were successfully sold as projects were completed.