Highcross has announced it has bought a commercial property portfolio for £9 million.

The real estate fund firm has signed a deal for buildings in Preston, Leeds, Sheffield and Hull in order to expand its portfolio in the north of England.

These contracts see the group acquire office investment property totalling 118,806 square feet, including 48,708 square feet at Preston's Midgery Court.

Director of Highcross' northern office Richard Pellatt said: "The purchase represented an opportunity to acquire a quality office portfolio with a diverse regional spread and strong mix of tenants."

He added that the locations offer good opportunities for the group to increase occupancy, which will boost the value of the assets.

Mr Pellatt went on to say the office parks were bought in regional locations, in order to "provide active management angles".

These contracts follow a deal Highcross signed last month for the former Diamond Envelopes building in Dyce, Aberdeen.

It bought the real estate, which adds 100,000 square feet to the group's portfolio, for £6.7 million.

Posted by James Collins ADNFCR-2842-ID-800471680-ADNFCR