Preston and Preston Capital exit Stonecliffe in bold move away from the hospitality sector
As you might have gathered, we’re in the business of acquiring industrial sheds and letting them to tenants with burgeoning businesses around London.
But that’s not where we started off in the early days of Preston and Preston Capital.
One of our first commercial projects was actually a holiday letting business, Stonecliffe, which rented out boutique apartments in Bowness-on-Windermere, at the heart of our beloved Lake District.
In Stonecliffe, we saw an opportunity to bundle assets, to convert usage and project manage a complex build out. Along the way we learnt valuable skills that we now apply to our industrial developments.
During that build out we built a cadre of trusted contractors, some of whom continue to work very closely with us on our industrial projects in the South East.
As much as we love the Lake District (it’s where I’m from!), the holiday lettings business is no longer within our remit, and it’s time to move on.
So we’ve been busy this month, deaccessioning our apartment assets, exiting the Stonecliffe business and moving away from the hospitality sector to focus solely on our aim to develop our industrial portfolio.
So we’ll be using the proceeds from the sale to fund two further industrial acquisitions in the South East, which will promise sharp yields and excellent returns.
Just like the rest of our industrial sheds have already proved to do!
We’ll be able to share the details of those acquisitions soon, but if you’d like to find out more about our focus in the meantime, do have a look at our case studies, or join our mailing list below for the latest updates.
Formed in 2016, Preston & Preston Capital is a British property investment firm focused on long term ownership, leasing and active management of mixed-use, commercial and light industrial properties. We are constantly seeking new assets to develop and add to our growing high-yield portfolio.
