Slough Estates International (SEI) has paid £27.4m for a business and industrial park in Sunbury, South West London.
Foreign & Colonial sold Sunbury International Business Centre (SIBC) in a deal that represents an initial yield of 6.7%.
The 156,000 sq ft park, located adjacent to the M3 at junction 1 within 5.5 miles of Heathrow Airport, comprises office and industrial buildings let to 14 tenants.
SIBC, located within the Sunbury International Park, will be included in Slough’s “LHR” portfolio which comprises 17 estates in 11 locations in the Heathrow area.
Phil Redding, regional director, West London said: “The acquisition caps a significant year of growth for SEI in the west London region, achieved through selective acquisitions, a significant programme of new development and asset management activities.
“This provides a mix of secure income and also opportunities to add value through using the company’s leasing, marketing and refurbishment skills and taking an active management approach to its portfolio.”
Colliers CRE and DTZ acted for Slough Estates International.
References: EGi News 16/01/07
