Catella APAM Completes Final Disposal Of High Street Retail Portfolio

Catella APAM (“APAM”), the specialist UK & Ireland real estate asset manager, is delighted to announce that it has disposed of the final asset from the Minard portfolio consisting of High Street retail shops across the United Kingdom.

The Minard portfolio was purchased from the Local Shopping REIT in November 2014 on behalf of the sponsor. The portfolio was comprised of 230 assets of retail shops and upper parts located across the United Kingdom. Due to a quickly changing retail market a disposal program was undertaken between 2016-2018 where 214 assets were sold with the remaining core properties retained. The final assets, located in Richmond and Wandsworth, were sold in November and December 2022 and brought the portfolio to a close.

Rhys Williams, Senior Asset Manager at APAM, comments: “The Minard portfolio has been a longstanding portfolio which has been worked through during a period of unprecedented turbulence in the UK retail markets including the ‘decline’ of the High Street, Brexit and the Covid pandemic.

“Despite this, APAM has been able to continue to deliver for its client by achieving a high turnover of disposals whilst continually repositioning and adding value to assets. With over 400 new lettings/renewals alongside the sale program, APAM has averaged one lease completion a week and one sale a fortnight during the lifespan of the portfolio. A big achievement and one that proves APAM’s ability to perform in difficult markets.”

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