Birmingham City Council has appointed Lambert Smith Hampton to sell a £20m portfolio of ground rents.
The sale of the 100 ground rents is part of the council’s ongoing asset disposal programme.
The portfolio includes commercial, industrial and non-operational council-owned properties, and will be sold individually or in small portfolios by December 2024.
LSH said the portfolio was likely to attract strong interest from private investors, local property companies and national specialists.
The assets will be sold from the local authority’s £2.4bn investment property portfolio through a programme led by commissioners.
The council has also been selling assets through Bond Wolfe auctions and has so far raised more than £6m from the disposal of more than 40 properties, including land and ground rents.
In February, the council secured £1.2bn of exceptional financial support from the government after effectively going bankrupt. It needs to repay the cash through £750m of asset sales.
Send feedback to Samantha McClary
Follow Estates Gazette
