Property Week has reported that outsourcing specialist Mapeley is the frontrunner in a £85m sale leaseback with IBM. Mapeley is competing wit Highcross and private equity firm Carlyle Group. A decision is expected within a week.
The deal includes IBM's £120m UK freehold estate, but the addition of nine vacant
leasehold properties with liabilities of £35m has reduced the net value of the
deal to £85m. The freehold properties total 1.6 million square feet of space
on 203 acres in three business campuses including IBM's headquarters in Portsmouth.
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Wednesday, October 19, 2005
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