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LONDON-Equiton Industrial partnership has bought the 87,000-sf Falcon Park in Neasden Lane, London, NW10 from the Schroder Exempt Property Unit Trust for £9.632 million ($14 million).

The industrial estate of 11 units lies to the south of the busy North Circular Road in Neasden, North-West London, and was developed in 2000. The current income from the estate is £644,385 per annum which reflects a net initial yield of 6.3% increasing to at least 7.1% when the one vacant unit is let. The reversionary yield is 7.3%.

This is Equiton’s 23rd acquisition since its launch in October 1999, to invest on behalf of Brixton, Equitable Life and the Prudential. And asset manager Brixton says more purchases are in the pipeline.

King Sturge and Cardales acted for Equiton.

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