O Twelve Estates has bought £12.8m of property in the Thames Gateway as part of its drive to build a substantial property portfolio in the area
The Guernsey-based listed company has bought Mill River Trading Estate in Enfield from London Victoria for £9.5m. The sale will reflect a yield of 5.6% once rent free periods have expired. The multi-let estate comprises 95,000 sq ft of industrial space on a four acre site. Enfield is the second largest industrial area in London. O Twelve was advised by D E & J Levy.
O Twelve has also bought 75 High Street, Brentwood for £3.3m from Prima Equity, reflecting an initial yield of 4.3%. The three-storey retail unit is let to Barclays bank until 2026. O Twelve was advised by Awbery Morris.
Phillip Rhodes, chairman of O Twelve said: ‘[The transactions] bring our total purchases in excess of £230 million since the company’s launch in March 2006.’
O Twelve’s property advisor is Rugby Estates.