Palmer Capital Asia & Country Group Developments acquire Ovingdean Hall for £18M

Palmer Capital Asia represented CGD on the deal, which offers the buyer a lease term of 16 years.

Ovingdean Hall consists of a 20-acre site, a Grade II listed hall and other school buildings in the village of Ovingdean, three miles from Brighton.

CGD is looking to build a portfolio of UK schools located within a 100-mile radius of Greater London.

Take advantage of weaking Sterling

Chief executive of Country Group Developments, Ben Taechaubol said it had brought forward its plans because of the weakness in the pound.

“As a long-term international investor, the recent turmoil around Brexit has encouraged us to expedite our plans in the United Kingdom to take advantage of the weaker Sterling,” he said.

Simultaneous to the UK investment strategy, Palmer Capital Asia and CGD are also undertaking a similar strategy in Asia, and are currently reviewing opportunities in Thailand, Malaysia, Korea and Hong Kong.

Simon Tyrrell, managing director of Palmer Capital Asia said:

“We are positioned as a long-term specialist landlord for the education sector in both Europe and Asia.  Tenant inertia, created by high financial and non-financial costs of relocation, supports the investment thesis and underpins sustainable occupancy levels, insulating returns from market volatility.”

Author: Guy Montague-Jones, Property Week