Grainger Trust has sold a commercial property investment portfolio to a private trust represented by Southern Property Group for £19.45m.
The portfolio comprises six properties including a 27,000 sq ft (2,508 sq m) Clerkenwell office building and a 25,000 sq ft (2,323 sq m) retail warehouse in Worcester, produced an annual rental income of £1.4m.
Grainger director Sean Slade commented: “This sale is in line with our stated strategy of refocusing resources on investment opportunities which offer residential and mixed use development potential.
“With the growth in mixed-use urban regeneration opportunities and the increasing requirement for inclusion of both private and affordable residential elements, we are well placed to leverage our experience and strong skill set within both the residential and commercial sectors.”
References: EGi News 29/01/04
