Mapeley Columbus Ltd has acquired Abbey National’s property portfolio for 457m, including both freehold and leasehold properties. Mapeley will provide management for the property for the next 20 years, although Abbey National will continue its facilities management responsibilities such as security, cleaning, and internal renewals and repairs. According to Abbey National, the deal is one of the largest and most innovative of its kind in the UK, involving 1,307 head interests in property and 524 subleases totaling over 600,000 sq m. The benefits to Abbey National will include reduced property risk, more flexible operations, and secured property costs. Mapeley is owned by Fortress Investment Group, Soros Real Estate Partners and Delancey Estates Plc.
Based on a report from i-FM
