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LONDON-Reflecting the growing maturity of the trade park sector, Scottish Widows Investment Partnership has paid £10 million ($15.5 million) to forward purchase a new trade park scheme by Quadrant Estates at Hedge End, Southampton. The forward funding reflects an initial yield of 7.5%.

The scheme will total 51,580 sf and will provide 12 trade units together with two restaurants. The project is largely pre-let with only three units still available ranging from 2,750 to 4,500 sf. Work on site is due to commence shortly with completion scheduled for June 2003.

Quadrant’s site is centrally located in Hedge End opposite Homebase, PC World, Currys, Marks & Spencer and Sainsbury’s and adjacent to McDonald’s. Matthews & Goodman and DE & J Levy advised Quadrant Estates on the funding while Scottish Widows was represented by Joiner Cummings.

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