Published Date:
21 August 2009
By PETER RANSCOMBE
A PROPERTY investment company backed by Motherwell Football Club chairman John Boyle has spent £4 million on a major office deal, it can be revealed today.
Hamilton Kelly Investment Partnership (HKIP) – which includes Boyle's Hamilton Portfolio and a syndicate of private investors – sealed the deal to buy New Lanarkshire House on the Strathclyde Business Park from Royal Liver Assurance.
The building, occupied by Scottish Enterprise, was bought through a special purchase vehicle called HKIP (Motherwell).
Today's deal is the third this year for HKIP, following the purchase of a £4m facility in Aberdeen occupied by Hailliburton. In an earlier deal, the firm acquired Johnstone House in Motherwell, which is let to the Department for Work and Pensions, for £6m. It was bought for one of HKIP's clients.
HKIP partner Stephen Kelly said: "It's a good time to buy at the moment if you have the funds and good-quality tenants to pay the rent."
He added: "We are under offer on a £9.5m deal in Aberdeen and we're looking at some alliances and partnerships that would allow us to handle larger opportunities UK-wide."
Today's deal included £3m of debt funding from Barclays Commercial Bank.
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Last Updated:
20 August 2009 10:16 PM
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Source:
The Scotsman
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Location:
Edinburgh
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Related Topics:
Commercial property
