Austin Gray is delighted to have successfully contracted, the sale of a portfolio of 20 properties, for our valued clients Ockendens Limited. All properties in the portfolio are located in the Littlehampton area of West Sussex – producing a current rental income of £243,880 p.a.
Ockendens Ltd –a family run business, enjoyed several decades trading as a well-regarded Hardware Store Company in the Littlehampton and Rustington area. In the 1970/80’s the family recognised the need to diversify as a business, embarking upon a journey as landlords – gradually acquiring property in the town where their company was originally incorporated.
Whilst remaining a family-owned company, Ockendens Ltd built a strong portfolio of properties. When thoughts turned to selling the portfolio in its entirety, the family’s solicitor, recommended Austin Gray to bring the portfolio to market – utilising our 40+ years of experience in overseeing similar transactions, calling upon our Agency and Valuation skills.
In what has been an evolving year in the UK property market, we were keen to secure the best possible outcome for our clients, we sold separately a number of commercial properties in the portfolio leaving the remaining residential lots only in the Company we then looked to securing a sale on the shares in the company.
Subsequently, our marketing of the remaining residential only portfolio proved fruitful, the complexities of the sale of company shares and taxation issues that the brings was overseen by Senior Partner Stewart Gray – utilising over 40 years of experience as residential & professional property expert.
With the lion’s share of the portfolio in the ownership of a new family, we wish them well as the new custodians. We extend our gratitude to the Ockenden family, for entrusting us with the sale of the property arm of their company and wish them well going forward.
If you too, are looking to dispose of a single investment property, multiple properties or indeed a large portfolio – do get in touch, we’re confident in our ability to secure a seamless sale.
Alternatively, if you are currently looking to acquire an investment property or two ……. take a look at the links below to our Austin Gray & Auction House Sussex &Hampshire webpages – we’ve a number of exciting properties that may be just what you’re looking for!
Austin Gray LLP – Investment, Land & Developments www.austingray.co.uk/investment-land-developments/
Auction House Sussex & Hampshire – www.auctionhouse.co.uk/sussexandhampshire
