Evans Randall Investors cancelled negotiations with the Sheinman family for the up to £200 million purchase of a seven-property portfolio in central London, owing to contract complications and macroeconomic concerns, including Brexit, Property Week reported.
The private equity real estate business, which first agreed to pay between £190 million and £200 million for the Clerkenwell Collection in June 2018, had raised the cash for the deal, the publication added.
The properties, which are still being marketed for sale, offer 194,735 square feet of space and generate £8.8 million in annual income.
Included in the portfolio are the 78,557-square-foot Sutton Yard office development at 65 Goswell Road; mixed-use freeholds, spanning 12,106 square feet, at 55-63 and 67-71 Goswell Road; the 41,308-square-foot Northburgh House at 10 Northburgh St.; and 12,954 square feet of office and showroom space at 1 Berry St. The Clerkenwell Collection also offers additional development opportunities at 50-56 Great Sutton St. and 9-11 Northburgh St., according to the publication.
Selling agent Lewis & Partners did not respond to requests for comment, while Evans Randall declined to comment, the Jan. 18 report added.