Monday, 10 May 2010 08:09

Property AM are delighted to announce that we assisted Hansteen Holdings plc with their acquisition of 60 assets previously owned within the Kilmartin Property Group.

The acquisition was for a total consideration of £80.375m, and included 42 properties in Scotland and 18 in England. There is a mixture of office, retail and industrial properties together with development sites and a leisure scheme in East Kilbride.

The due diligence exercise took place over an 8 day period and Property AM assisted Hansteen with all due diligence and business plans to enable them to complete the acquisition within this very short period of time.

Property AM are further delighted to announce that we are retained by Hansteen to asset manage the majority of the purchased properties, and also assist with a number of disposals.

Derek Heathwood of Property AM said ‘Our involvement with this acquisition demonstrates that depth of experience and knowledge within our small focused team, and that we are able to provide an efficient service within demanding timescales.

We look forward to helping Hansteen exploit a number of the opportunities that we have already identified within the portfolio and maximising returns for Hansteen and their shareholders.’