Christie & Co has announced the sale of a portfolio of four dental property investments in the North East of England.

The portfolio comprises four dental property investments located in Jesmond, Bishop Auckland, Consett, and Stockton-on-Tees.

All four properties offer secure income on residual co-terminus leases and strong covenant via the high-quality operational tenant and national dental group operator, PortmanDentex, which previously acquired the operational dental business, Queensway Group, through Christie & Co in 2023.

Following the successful partnership transaction of the operational group, the property partners re-engaged Christie & Co to act in its interests in the realisation of those independently-retained, residual property investments.

Following a period of marketing through Steve Darbon at Christie & Co, which received considerable interest from a wide pool of independent and commercial investors from across the UK and overseas, the portfolio has been successfully sold to a private investor represented by SIRE Capital Partners.

The operational business was unaffected by the sale.

Paul Averley and Guy Deeming, former property partners and co-owners of the portfolio, said: “When the Queensway Group decided to sell its property portfolio, we knew without hesitation that we wanted Christie & Co to bring that to market on our behalf, having done such a fantastic job for us in brokering the recent sale of our business.

“With the prospects for the sale of our property portfolio, and following the prior sale of the business, this placed us as an operational tenant, too, and the team at Christie & Co found us the perfect match in the new owner for the property portfolio.

“We are delighted with the outcome.”

Darbon adds: “We were delighted to have been re-engaged by our clients and to act for the property partners in the sale of these fantastic dental property investments.

“The breadth of market appetite received from an expansive pool of private and commercial investors was significant.

“Appetite was fuelled, not just by offering these with a tenant of considerable operational scale and covenant, but also by the proven and successful operational history, growth, and track record, from its previous independent ownership.

“That culmination of tenant history and success, current stability, and the long-term operational future in a tenant delivering quality private and specialist NHS dental and orthodontic services, further enhanced the commercial appeal for this portfolio.

“We have seen a considerable surge in appetite for such investment opportunities of all sizes and scales across the UK, and this successful sale further demonstrates the ongoing market demand for healthcare and medical property investments.”

The investments were sold for an undisclosed price.