LaSalle sells Poole property for £3 million (UK)

LaSalle Investment Management ("LaSalle") today announced the sale of Fleets Lane Industrial Estate in Poole. The partially let estate comprises 16 units totaling 86,690 ft² (approx. 8,000 m²).

The £3-million (approx. €3.6 mln.) sale, reflecting a net initial yield of 2.3%, was made on behalf of Coal Mineworkers Pension Scheme.

Andrew Miller, Associate Director at LaSalle Investment Management said, "We are delighted to have secured the sale of Fleets Lane in Poole. However, the property is a small lot size relative to the size of the portfolio – consequently the proceeds will be re-invested in larger properties and we are actively seeking new opportunities accordingly."

The purchaser was Ankers & Rawlings Developments Ltd and LaSalle was advised by CBRE (Southampton) and Sibbett Gregory.

Source: Citigate Dewe Rogerson

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