After setting up his new business Max Properties in May, Nick Leslau has already found an attractive potential acquisition; Industrious, a £270m industrial property portfolio that went into administration in 2008.
The portfolio was worth over £530m when it was placed into receivership, and has since fallen substantially in value during the economic downturn.
The Royal Bank of Scotland securitised Industrious' debt, according to reports.
The sale discussions have been complicated as the administrators Ernest & Young plan to sell some of the 120 properties in an auction next month. Leslau will need to pre-empt this sale.
Ernest & Young said there has been plenty of interest in the properties, and will continue with the auction. They stressed that they are not in any exclusive discussions.
Leslau, property entrepreneur set up Max Properties with Mike Brown, former Helical Bar investment chief, to take advantage of low values in the UK real estate market.
