Brixton plc has sold Watchmoor Point in Camberley, Surrey for approximately €55 million (£35.1 mln) to Legal & General Assurance Society. The sale of the 214,000-ft² estate reflects an initial yield of 5.44%, and a 6% enhancement on the December 2005 valuation.
Comprising 5 industrial units and a single office building, the estate was developed by Brixton in 2000 and is let to tenants including Dowding & Mills, Premium Aircraft Interiors and ThyssenKrupp Materials. Units range from 15,000 to 87,000 ft² and the current rent roll is £2.02mpa, with £290,000pa relating to the office building.
King Sturge and CBRE advised Brixton on the sale with DTZ acting for Legal & General.