Slough Estates has sold a seven-acre leasehold industrial development in Edison Road, Basingstoke to clients of Arlington Property Investment for £10.75m.
The sale of the 111,288 sq ft scheme equates to a capital value of £96 per sq ft.
The development includes a large bespoke industrial unit occupied by Honeywell Avionics and two terrace developments of seven industrial units, all but one of which are occupied.
Slough has owned the site since 1985 and retains its other existing industrial holding in the town, the 50,000 sq ft Lister Road Industrial Estate.
Mike Wilson, regional director of Slough’s south London and south of England team commented: “The sale of this property is in line with SEI’s stated strategy of recycling assets to maximise value.
“It enables us to focus on the value enhancement and development of other assets in an extremely competitive market.”
Slough Estates was advised by GVA Grimley and Arlington Property Investment by Montagu Evans.
References: EGi News 14/03/06
