Banks Long & Co Secure £30m Investment Acquisitions in Challenging Economic Climate.
The Investment Team at Banks Long & Co has had a strong start to the year despite the challenging economic environment. They have completed a number of investment acquisitions across the UK totalling over £30m, including two prime hotel assets in London and Edinburgh with a combined purchase price of over £25m, and a multi-let industrial portfolio totalling over 70,000 sq ft.
Managing Director of Banks Long & Co, Tim Bradford, commented: “Our experience and reputation pays dividends for our clients, who are able to acquire trophy assets in prime locations, at yields that compare favourably to pre-Ukraine/Q3 2022 pricing.” William Wall, Director of Business Space at Banks Long & Co, said: “The industrial/logistics market fundamentals remain strong with continued low availability, robust occupier demand and projected growth across all regions.”
Tim Bradford concluded: “Having navigated the ups and downs of the investment market since the late 1980s, we expect a busy 2023 as sellers recognise the need to adjust their pricing and the general economy starts to operate within the higher inflation/interest rate environment.” The team are now working on a number of new acquisitions across a variety of sectors for retained clients.
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