Member Article

KPMG administrators complete sale of South East property portfolio

The joint administrators of the De Stefano Property Group, Jim Tucker and Ed Boyle from KPMG, have confirmed the sale of a portfolio of assets to Catalyst Capital in a £54.85m deal.

The real estate investment and asset management group has purchased 19 properties across the South East administrators were appointed to De Stefano Property Group Limited in December last year.

The principal assets in the sale to Catalyst Capital include:

• Brooks Shopping Centre, Winchester – a circa 120,000 sq.ft. split level shopping centre. Market Place Mews, Henley on Thames – land assembly for a mixed use development scheme comprising 14 residential units and 16,000 sq.ft. of retail accommodation.
• 54-62 High Street, Bromley – a parade of retail units.
• 10-12, 64-88 Brewery Road, Kings Cross – a fully let terrace of seven 1970s industrial units.
• Angel Walk Shopping Centre, High Street, Tonbridge – a covered 1980s shopping centre.

Jim Tucker, Joint Administrator and partner at KPMG, said: “We’re pleased to confirm the sale of these assets to Catalyst Capital, enabling significant funds to be returned to the company’s creditors. We continue to work with our agents to sell the remaining properties.”

This was posted in Bdaily's Members' News section by Ellen Forster .