Allsop’s Leeds office has been instructed to dispose of the Skylight Capital Build-Up Fund’s portfolio. Skylight is a niche residential property fund established in 2004.
The portfolio consists of 600 residential properties located mainly throughout the North East of England with a total value of over £37,500,000. Allsop is working with Skylight to break up the portfolio over the next 3 years using a mix of disposal strategies including portfolio sales, auction and private treaty sales.
Michael Gorman of Allsop’s Leeds Residential Investment team comments “Disposing of 600 properties over a three year period requires a strategic approach which we are in the position to deliver by drawing on our skills and resources within the auction and residential investment markets in the North.”
The properties within the fund have been carefully sourced by pre-determined criteria including price, location and suitability as a rental unit, therefore offering attractive investment opportunities to potential buyers.
Ayal Belling, a director of the fund, comments “We are entering the 8th year of the stated 10 year life of the fund and our aim is to begin disposal now in order to crystallise returns, subject to market conditions, within the 10 year term”
The first phase of the disposal will include 40 properties to be sold via auction and two residential investment portfolios to be sold by private treaty.
Notes to editor
About Allsop LLP
Allsop is an independent property consultancy, established in 1906 with a market-leading residential investment service. We are also well known as the UK’s largest and most successful auction house. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales. Offices are located in the West End, City and Leeds.
About Skylight Capital Build-Up Fund plc
Skylight was established in March 2004 as an open-ended investment company in the Isle of Man to provide investors with an opportunity to benefit from investment in the UK residential property market, primarily in the social sector, investing in residential properties located primarily in the North/North East region of England for the investment term of 10 years.
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