The BlackRock Workspace Property Trust has exchanged contracts for the disposal of a portfolio of four light industrial properties to Westbrook Partners for £32.1m.
The trust is a joint venture between Workspace and the BlackRock UK Property Fund, in which Workspace has a 20% interest.
The four properties sold were Charles House, Southall; Horton Road Industrial Estate, West Drayton; Kingsmill Business Park, Kingston-Upon-Thames; and Progress Way Business Park, Croydon.
The properties were sold at a 3.8% premium to their March 2015 valuation and a capital value of £176 per sq ft.
Allsop acted for The BlackRock Workspace Property Trust. Cortex Partners acted for Westbrook.
