Cordatus Acquires SELCO Trade Centre, Wythenshawe in £3m Deal

By | News

Latest Acquisition for Cordatus Property Trust


LONDON, 12 March 2019 – Cordatus Property Trust (“CPT”) has acquired a Selco Trade Centre unit in a prime location in Wythenshawe, Manchester, as its latest addition to the fund.

The Cordatus Property Trust is a programmatic venture between CBRE Global Investment Partners (CBRE GIP) and Cordatus Real Estate (Cordatus).

Cordatus purchased the unit on Timpson Road, Wythenshawe, from IGP Investments Ltd for £3,000,000. The price reflects a net initial yield of approximately 6.9%.

In line with its development of a ‘best ideas’ portfolio spanning across the UK, Cordatus has acquired the long leasehold on the Wythenshawe site which is let to Selco with nearly 8 years left on the lease. It trades as a successful trade counter warehouse for building materials trade and business customers.

Andrew Murray of Cordatus said: “This is a very well-located site with a good tenant in one of the most established estates in south Manchester. The purchase adds another well-let asset with an attractive income stream and good growth prospects to our expanding portfolio and we see a real opportunity here.  We are continuing to apply proven investment knowledge to deliver above-market returns and are on the lookout for more assets.”

Cordatus has purchased the long leasehold for the Selco Trade Centre site. The lease involves 5-yearly, rent reviews.  The property is a modern detached unit comprising approximately 36,328 sq ft. with a 50-space car park.

Ereira Mendoza and B8 Real Estate acted for Cordatus. Whitmarsh Holt Young acted for the vendor.

Cordatus and CBRE GIP launched the Trust in December 2015 and had an initial funding of £150m. The Trust has now deployed approx. £178 million and continues to seek opportunities to invest in line with its investment strategy.

The vehicle is primarily targeting investment opportunities in strong micro locations, primarily in UK regional markets, with typical lot sizes of between £3m to £15m, to generate above market income distribution.


About Cordatus Real Estate (“Cordatus”)

Cordatus is a UK asset and development management specialist. Cordatus is fund manager for the Cordatus Property Trust, a recently-launched property fund focusing on sub £15m lot sizes across all sectors and regions of the UK property market. The fund has initial capital to invest of £150m.

Cordatus also specialises in the work-out of distressed portfolios and uses its specialist skills in partnering with institutional investors on selective opportunities.

Cordatus operates out of offices in Edinburgh, the Midlands and London. Our five property directors have over 130 years of asset and development management experience between them, largely within leading fund management and development companies. The directors are Tom Laidlaw, Michael Cunningham, Mike Channing, Gavin Munn and Paul Blyth.

Cordatus’ expertise is focused on asset management and value creation through the accumulated 130 years experience of its principal directors.


Media information, contact:

Ben Copithorne or Richard Pia


Email: /

Phone: + 44 207 636 7366


Meet us in Cannes

By | News

Cordatus Directors, Mike Channing and Paul Blyth will be in Cannes During Mipim, the International real estate conference, 11 – 13th March 2019.

We hope to see you there!



Cordatus will be in Cannes

between 11 – 13 March 2019

We hope to see you there!

Mike Channing (Director)

+44 7928 702 791

Paul Blyth (Director)

+44 7801 787 915

Sierra Nevada Challenge

By | News

In mid-September a group of intrepid walkers, including Cordatus director Mike Channing, enjoyed a trip to the Sierra Nevada in southern Spain to conquer Mulhacen, the highest peak on the Spanish mainland, which stands at 3,479m (11,413 ft).

Mike commented, “this was quite a challenging 10 hour day, which started nice and early at 7am. The effects of altitude were felt by all of the group in the later stages of the climb, especially by Cameron, who had decided to run up the mountain to keep fit for an upcoming fell run! The views from the top were spectacular though with the weather clear and this made it all worthwhile”.


Will the UK High Street Ever Recover?

Will the UK High Street Ever Recover?

By | News

The travails of the retail sector has been one of the most talked about features of the UK economy since the financial crash. Regular articles in the trade press and the national and local dailies and weeklies are full of the ‘high street’ woes but how deep are the problems and is conventional retailing in terminal decline, or are these issues merely temporary with better times ahead?

Read More
Economic and Market Commentary Q2 – July 2018

Economic and Market Commentary Q2 – July 2018

By | News

Perhaps it is just as well that the House of Commons is now in recess for the last few months have been as bad for the government as could be imagined. Attempting to chart a course towards Brexit has proven even more challenging than expected, particularly given the government’s slim majority, with any hopes of consensus following a Chequers think tank lasting all but one day before the Brexit Secretary resigned, quickly being followed by the Foreign Secretary, both of whom declaring that they could not accept the Prime Minister’s vision of the way ahead.

Read More