Capital & Regional (C&R) has sold the industrial estate portion of the T3 Portfolio to CBRE Investors for £27.75m.
The T3 Portfolio was sold to the asset manager for £96m by AXA and Warner Estates at the end of October. C&R will retain the 23-site trade park element of the portfolio.
C&R director Andrew Lewis-Pratt said: “This sub sale enables us to focus on the trade park sector of the portfolio where we see the greatest opportunities for our team to add value.”
The T3 Portfolio contained 10 industrial estates, and Capital & Regional’s foray into the sector was the source of some surprise at the time.
It beat seven other bidders including Brixton and UK Land.
Strutt & Parker acted for CBRE Investors.
References: EGi News 17/11/05
