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Cubex Land & Palmer Capital Acquire £12.5m Portfolio in Salisbury

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Cubex Land alongside Palmer Capital are delighted to announce the acquisition of a £12.5m portfolio of office and industrial buildings in the centre of Salisbury.

The portfolio comprises five office buildings totalling 120,000 sq. ft. and three industrial buildings totalling 70,000 sq. ft.

The purchase has been funded by the Palmer Capital Development Fund III, a programmatic joint venture between CBRE Global Investment Partners and Palmer Capital. Cubex have now teamed up with McCarthy & Stone to jointly pursue a residential-led scheme comprising 99 retirement and assisted living units with some of the other assets to be disposed of for continued employment use as required.

Chris Button, Director at Palmer Capital commented “This project fitted perfectly within the current portfolio of assets in the Palmer Capital Development Fund III. We are actively looking for similar sites with a bias for brownfield sites located in or around cities across the UK”

Peter Walford, Director at Cubex Land commented “We have purchased an eclectic mix of redundant buildings around the centre of Salisbury and we are excited to be pursuing a joint strategy with McCarthy & Stone to deliver new and improved accommodation that will support the local community by providing much needed residential and commercial space.”