LONDON-SEGRO, a REIT based here, has sold four industrial parks in the United Kingdom to a fund advised by Harbert Management Corp. (Europe) LLC for $318 million. The parks are in Rochdale, Manchester and Birmingham.
The Heywood Distribution Park in Manchester spans more than 150 acres and can accommodate 2.6 million square feet. The Kings Norton Business Centre in Birmingham is on 60 acres, and has 810,000 square feet. Meteor Park, also in Birmingham, is comprised fo four new industrial and warehouse properties at Junction 6 of the M6 highway. The sale also includes Trafford Park in Manchester.
Justin Read, SEGRO's group finance director, said the completion of this disposal of regional assets marks another important step to reshape the trust’s holdings to core assets. “Additionally, the disposal of
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