llyods bank

Aprirose, the real estate investment company, has acquired the Frankel Portfolio from Lloyds Banking Group Plc in a £39.5 million sale and leaseback deal.

The portfolio is made up of 44 high street banks from the Lloyds Banking Group, operating under the Halifax, Bank of Scotland and Lloyds Bank brands.

The banks are located throughout the UK, with ten of the properties located in London and the South East.  A further nine properties are in Scotland.  Other locations include Northampton, Loughborough, Bath and Plymouth.

Gary Jones, Chief Operating Officer at Aprirose, said: “This transaction is another example of Aprirose being able to find a good investment opportunity and being able to move quickly to close the deal.  This investment adds further diversity to our £1 billion property portfolio.”

CBRE advised Lloyds Banking Group Plc and Springer Nicolas advised Aprirose.

Source: Aprirose