The Mercury portfolio was sold by a distressed institutional vendor and initially comprised 24 assets, nine of which were sub-sold, via three separate transactions, delivering an £11m day one profit. The transaction was a 50:50 JV with Patron Capital with debt from Santander.

The portfolio included office, industrial, retail warehousing and high street retail units located throughout the UK.

The remaining profit was generated via Intensive asset management Including the refurbishment and letting of 250,000 sq ft of vacant space. Assets were sold individually on the completion of each asset level business plan.

We achieved an early exit thanks to the rapid implementation of our asset management plans, further enhancing the value of the portfolio.