Brixton has acquired Threadneedle Property Investments’ Poyle 13 estate in Heathrow for £50m.
The sale of the 230,000 sq ft (21,367 sq m) estate at Horton Road is expected to complete in four weeks time and reflects a net initial yield of 4.7%. The estate includes 17 industrial and warehouse buildings generating a rent of £2.44m per year.
Main tenants at the estate, which was originally developed in the late eighties by Eagle Star Properties, include Coca Cola, Kinnarps UK, Steelcase and Kintetsu World Express.
Tim Wheeler, chief executive at Brixton said: ‘We have been tracking this property for many years and we believe its attraction will increase with various management initiatives and its proximity to Terminal 5.’