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Dunloe Ewart Goes Liquid

LONDON-Irish investor Dunloe Ewart has started the partial liquidation of its property portfolio with a series of investment disposals in Scotland and Northern Ireland.

By Graham Parker | Updated on July 11, 2001

LONDON-Irish property company Dunloe Ewart has started the process of selling off surplus assets. Earlier this year shareholders blocked a plan to take the company private but approved a partial liquidation of the portfolio.

Dunloe Ewart’s entire Scottish investment portfolio, has been sold for just under £18 million ($25.4 million) in two separate transactions. The Scottish investor Boson has Dunloe Ewart’s properties in Aberdeen, Edinburgh, Glasgow, Paisley, Lanark and Ayr for £14 million ($19.75 million) assisted by funding from Bank of Scotland. Boson was advised by Montagu Evans. And Sydney and London Properties has bought Albany House, an office building in central Edinburgh, from Dunloe Ewart for £3.975 million ($5.6 million).

‘The sale highlights the current trend of listed property companies going private, and of private investors acquiring commercial property investments as a result of competitive funding terms’ according to Angus Campbell, investment partner at Ryden the agent for Dunloe Ewart.

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