28th Sep 2009 15:35
Completion of Sale of Equiton
Equiton GP Limited announces that it has today completed the sale of all the property assets of the Equiton Industrial Partnership to Universities Superannuation Scheme. On 18th August it was announced that contracts had been unconditionally exchanged for a cash amount of £196m, reflecting a net initial yield of 8.7% off the contracted income.
The Equiton Industrial Partnership comprises 3 Limited Partners: Brixton Limited (now owned by SEGRO plc) with a 30% interest, Edger Investments Limited with 44% and The SE Industrial Unit Trust with 26%. The proceeds of sale received by the Equiton Industrial Partnership will be used to repay all of its outstanding debts and any remaining amounts will be distributed to the Limited Partners. Equiton was advised by Franc Warwick whilst King Sturge acted for Universities Superannuation Scheme.
For further information please contact:
|
Maitland |
+44 20 7379 5151
|
Liz Morley |
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Segro