Price Bailey advise on sale of property portfolio

The Price Bailey Strategic Corporate Finance team recently led the successful sale of property investment company Aston Lloyd Limited to commercial property acquirers The Hacking Partnership Plc.

Founded in 2002, Aston Lloyd Limited’s property portfolio consisted of a number of investment sites across Luton and Southend-on-Sea, including a selection of one and two bedroom residential flats, commercial units and a residential car park.

Price Bailey acted as lead adviser and worked with the company to target a range of potential buyers. Ross Bennett, Corporate Finance Executive at Price Bailey said: “We developed a confidential, robust buyer targeting process. Utilising our internal and external professional contacts within the property market we were able to quickly identify a range of suitable buyers.”

“With this approach, we were able to secure multiple offers from potential buyers and following further negotiations we successfully secured an acceptable offer for our client with a fully motivated purchaser who offered the full consideration paid in cash on completion.”

Glenn Scarborough of Aston Lloyd Limited commented: “Price Bailey has managed this process efficiently and professionally. You only get to sell your business once, so it is important to have advisers who are experts in what they do, providing support and advice every step of the way.”

Legal advice to the shareholders was provided by Ashley Reeback and Stephanie Brigg at Howard Kennedy.