Westbury Property Fund has sold its interest in an industrial complex fronting the North Circular Road in London.
Westbury sold its interest in WPL Estates – the joint venture established with Carillion Holdings in October 2004 – which was set up to buy the freehold of the Reality Buildings in Edmonton.
The sale has generated a net profit of £750,000 for Westbury within nine months.
The venture bought the property for £7.15m in October 2004, with Westbury making an initial investment of £1.14m.
The sale of its interest reflects an underlying value for the property at £9.18m.
References: EGi News 27/06/05
