Ten of the properties sold were acquired as part of the March 2001 take-over of Dunsterville Allen. The properties were mainly retail and industrial, with two residential properties. The biggest sale was an industrial building at 10 Roman Road, Cricklewood, London N10 which was sold for £2.75 million to an owner occupier.
And the process of reinvesting the proceeds has already begun. Merivale Moore has spent £2.35 million ($3.4 million) on units 1-7 Barnfield Road, Swindon, Wiltshire. The reversionary multi-let industrial estate totals 44,000 sf and the purchase price reflects an initial yield of 8.76%, expected to rise to 9.8% by December 2003.
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