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Haslemere in $100M Portfolio Sale

LONDON-Haslemere, the Dutch-based UK property fund, has sold the mixed-use Beaucette Property Partnership which it managed in partnership with two other Dutch investors to a subsidiary of Cardinal Lysander.

By Graham Parker | Updated on April 11, 2002

LONDON-Haslemere, the UK arm of the Dutch investor Rodamco, has sold the Beaucette Property Partnership to Praedia Investment, a subsidiary of Cardinal Lysander Group, for approximately £72 million ($104 million) Haslemere is currently the subject of an agreed bid from Israeli-based Brack Capital.

Haslemere held a 50% interest in the fund, together with the Hov Investments and Ingelstorp Investments. The purchasers will continue with the existing Limited Liability Partnership structure. The portfolio included industrial estates in Tonbridge, Kent and Cardiff, South Wales; offices in the West End of London and in Woking, Surrey; a business park in Leeds, West Yorkshire and out-of-town retail investments in Leeds and Stockton on Tees, County Durham.

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