Equiton Industrial Partnership has exchanged contracts to sell a virtual freehold interest in Impulse 84, Wokingham for £4.9m.
The sale, to Impulse 84 Ltd, reflects a net initial yield of 5.6% based on purchaser’s costs of 5.7625%.
The detached industrial unit comprises 34,464 sq ft and is let to Harris Systems Ltd until June 2011 at a rent of £288,340pa.
It is currently unoccupied.
Brixton plc deputy chief executive Steven Owen said:
“This is an exceptional and opportunistic sale showing a 15.2% surplus over the December 2004 valuation.
“Notwithstanding this sale, Equiton is actively seeking to invest more than £50m in multi-let South East industrial estates.”
Equiton is a joint venture between Brixton plc, the Equitable Life Assurance Society and Edger Investments.
References: EGi News 23/08/05
