Palace Capital is continuing to offload assets from its portfolio, the latest sale seeing it sell an industrial site in West Sussex at a 135% uplift to its 2014 acquisition price.
The REIT has sold the 9,600 sq ft industrial unit in Rustington to a private investment company for £860,000. The site is let to manufacturer Precision Products until 2031, with rent rising to £65,000 per annum as of June 2025.
Palace Capital said earlier this year that a 15-property, £30m-plus pipeline of asset sales would allow it to recycle capital into new regional office and industrial acquisitions.
Flude Property Consultants acted for Palace Capital on the Rustington sale.
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