Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-South-Eastern UK industrial specialist Brixton has sold its long leasehold interest in the Nuffield Way Industrial Estate in Abingdon, near Oxford. The deal, part of an ongoing strategy to dispose of peripheral assets and concentrate on core West London markets, is worth £17.68 million ($27 million).

It and gives purchaser ING Property Income Fund a 1970s estate comprising 24 units totalling 276,000 sf. The estate was assembled by Brixton in four separate tranches from 1996-1998.

In spite of the current pressures on commercial property values, the price paid is 3.25% more than the valuation of £17.12 million ($26 million) placed upon the estate at the end of 2002. The total passing rent is just ahead of £1.2 million ($1.8 million) and Brixton is providing a rent guarantee for five currently vacant units and four that may become vacant during the period to January 2005.

CB Richard Ellis advised Brixton on the sale. Nelson Bakewell, Hennings Hume and Ashkirk Properties–which will manage the property–represented ING.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.