Lloyds Banking Group has put a first portfolio of distressed property assets collected from about 38 different receiverships on the market through Jones Lang LaSalle, the Financial Times has reported.

The portfolio, codenamed Flagstaff, comprises a diverse range of UK properties across various sectors including office, leisure, retail and industrial. There are 38 properties in total to be sold that were owned by a number of different investors, with a guide price of more than £60 mln (EUR 67 mln).

The guide price reflects a net initial yield of more than 9%. About half of the assets by income are located in the south of England.