Brixton is marketing a £145m portfolio of industrial estates located in the South East.
The properties comprise more than 900,000 sq ft of multilet industrial and distribution space in 40 buildings with 27 tenants, and produce around £8.5m pa.
An agent active in the market said: “These are not Brixton’s best or most high-profile buildings.
“They are not 100% let and Brixton would appear to be taking advantage of the market being as strong as it is, to see if they can be sold off with rent guarantees.”
If achieved, the £145m price would represent a yield of 5.85%.
Brixton has been disposing of stock since it bought Industrious for £675m in 2004, with sales including the transfer of 50 properties to Teesland iOG for £249.4m in June last year.
A further 19 assets from the 29m sq ft portfolio were sold to the Industrial Trust last month for £26.2m. CB Richard Ellis and King Sturge advise Brixton.
The portfolio comprises:
· Castle Estate, High Wycombe (388,000 sq ft)
· Watchmoor Point, Camberley (214,000 sq ft)
· Tower Bridge Business Park, London SE1 (140,000 sq ft)
· Southwood Business Park, Farnborough (162,000 sq ft)
References: EGi News 06/02/06
