Laura Ashley administrators appoint advisers on industrial portfolio
Laura Ashley’s administrators at PwC have appointed Avison Young to market its manufacturing and distribution freeholds.
The 32-acre portfolio comprises six individual properties providing more than 460,000 sq ft space. These are located throughout Newtown, Mid-Wales.
AY’s restructuring solutions team will seek buyers for the portfolio either as a whole or in part, on both a for-sale and to-let basis.
Laura Ashley’s administrators at PwC have appointed Avison Young to market its manufacturing and distribution freeholds.
The 32-acre portfolio comprises six individual properties providing more than 460,000 sq ft space. These are located throughout Newtown, Mid-Wales.
AY’s restructuring solutions team will seek buyers for the portfolio either as a whole or in part, on both a for-sale and to-let basis.
Chris Davies, associate director of the restructuring solutions team at AY, said it has already received “a positive number of early enquiries”.
He said: “The industrial market continues to demonstrate resilience in the prevailing market, with a shortage of freehold industrial and warehouse premises immediately available.
“As a result, this portfolio offers an excellent opportunity for occupiers, investors and developers alike to acquire a substantial industrial holding.”
Rob Lewis and Zelf Hussain at PwC were appointed as joint administrators to the troubled retailer in March, with the addition of colleague Rachael Wilkinson a month later.
Restructuring firm Gordon Brothers bought the branding rights in April. The deal did not include any of its stores or its manufacturing and logistics operations in the UK and Ireland.
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