Birmingham City Council has instructed Lambert Smith Hampton to sell a ground rent portfolio of around 100 assets in and around the city.
The mix of commercial and non-operational council-owned properties will be sold individually or as small portfolios, and it is anticipated the sales – which are scheduled to conclude by December 2024 – could generate up to £20m.
Adam Ramshaw, head of LSH’s Birmingham office, said: “Like many local authorities across the country, Birmingham City Council is facing significant financial headwinds and urgently needs to raise funds to support frontline services. The sale of this ground rent portfolio represents an efficient way of releasing capital without impacting core operational assets.
“Representing a rare opportunity to acquire stable long-dated income, this ground rent portfolio is likely to attract strong interest from private investors, local property companies and national specialists.”
