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LONDON-Rodamco’s UK property company Haslemere Estates has sold 30 industtiral units in four location in East Kilbride, Scotland, to the Ashtenne Industrial Fund, the joint venture between specialist industrial investor Ashtenne and Morley Fund Management. The purchase price of £4.59 million ($6.7 million) reflects an initial yield of 11% with a current rental income of £535,140 ($776,000) per annum.

Ian Watson, Joint Chief Executive of Ashtenne said: ‘The properties are classic Ashtenne stock within an area where we already have critical mass.’

In July of this year, the Ashtenne fund acquired Helical Bar’s Scottish industrial portfolio for £15.1 million ($21.9 million). The portfolio is spread across the Scottish Central Belt from Glenrothes in the East, to Ayr in the West. The portfolio produced a rental income of £1.6 million ($2.32 million) per annum indicating a net initial yield of 10%.

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