Brixton is on the verge of selling the 29,400 sq ft Penistone Road Industrial Estate in Sheffield to Elmsdale Estates for £3.085m.
The property was part of the Industrious portfolio the company bought for £675m in 2004.
The price is 40% greater than the apportioned price, and represents an uplift of 27% on last June’s half-year valuation.
The deal, which represents a net initial yield of 4.7%, is due to complete on 17th February.
The estate is let to 17 tenants, and produces a net income of £152,772 sq ft.
Two units totalling 5,128 sq ft are vacant.
References: EGi News 03/02/06
