Friday 28th Oct 2016 - Logistics Manager

EIP sells Newbury property and buys in Weybridge

Equiton Industrial Partnership (EIP), the Limited Partnership joint venture between Brixton, the Equitable Life Assurance Society and Edger Investments (a wholly owned subsidiary of Prudential Assurance Company), has sold Units 9-13 Hambridge Lane, Newbury to Kindale. The total sale proceeds of £33.5M show a 2.6% profit over the June 2003 valuation.

The estate, which dates from 1974, comprises two terraces totalling 7,437sq m in three units which are all currently vacant.

Equiton retains the 6,417sq m adjoining estate at 1-8 Hambridge Lane, Newbury where one unit of 898sq m is currently available. Equiton also owns the 19,344sq m Kennetside and Bone lane Industrial Estates in Newbury where 1,160sq m is available. The company’s letting agents in Newbury are Deal Varney and Dreweatt Neate.

It has also acquired Units A301-A305 at Brooklands Industrial Park, Weybridge from Comgrove Properties Ltd, a subsidiary of Quintain Estates & Development for £5.96M. The estate, developed in 1980 in a single terrace, comprises five units totalling 5,289sq m.