The formal sale process of Dawnay Day’s Property portfolio has now commenced.

Administrator BDO Stoy Hayward said today that after receiving ‘several hundred enquiries’ it is ready to dispose of the properties owned by Dawnay Day subsidiaries Starlight Investments, Insureprofit and Dawnay Day Properties.

The portfolio consists of 200 investment properties, with a rent roll of around £45m a year.

Parties thought to have registered an interest with DTZ, which is selling the portfolio, include former AAIM director Rob Whitton’s ROM Capital opportunity fund, Sol Zakay’s Topland, Asif Aziz’s Criterion Capital and Israeli investor Igal Ahouvi.

Dawnay Day hit the buffers after failing to be able to meet margin calls on highly leveraged equity investments.

More than 80 of the 250 companies that made up the Dawnay Day empire, owned by Peter Klimt and Guy Naggar, have now gone into administration.

Shay Bannon, business restructuring partner at BDO Stoy Hayward, said: ‘To date, we have had several hundred enquiries from parties interested in the Dawnay, Day UK property portfolio and we have spent some time going through these expressions of interest.’

‘Although this is likely to be one of the largest property disposals this year, our preferred solution is to dispose of the portfolio to one purchaser; however, we would also consider a sale to a finite number of buyers.

'Our agents, DTZ, will now begin contacting interested parties in the next few days to establish if they have a strong history of purchases as well as to demonstrate their credentials and funding for a deal of this scale.’