Posted on March - 28 - 2010
Landwood’s £4.5m flats deal
Manchester asset valuation and recovery specialist Landwood has completed the sale of a 90-strong property portfolio that was marketed with an asking price of in excess of £4.5m.
The sale, on behalf of the receivers Begbies Traynor, was to a London-based investor and consisted mainly of apartments in Manchester and Blackpool.
Landwood director Mark Bailey says the disposal — the second major property portfolio deal completed by the firm this year — was further evidence of a tentative recovery in the sector.
He said: “It can be dangerous to read too much into one particular deal but this adds to growing evidence that there is activity returning to the market.
“The sector is still at a much lower level than 18 months ago and the recovery is fragile for a number of reasons but deals are being done.”
Founded in October, 2008 by directors Richard Parkinson and Mark Bailey, Landwood has 14 staff and also has offices in Birmingham and London.
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