BXTN Brixton

 

TIDMBXTN 
 
RNS Number : 6040X 
Brixton PLC 
18 August 2009 
 

18 August 2009 
 
 
BRIXTON ANNOUNCES SALE OF EQUITON PROPERTY ASSETS 
 
 
Equiton GP Limited has unconditionally exchanged contracts to sell all the 
property assets of the 
Equiton Industrial Partnership to Universities Superannuation Scheme Limited for 
a cash amount of GBP196m, reflecting a net initial yield of 8.7% off the 
contracted income. The completion date is 28 September 2009. 
 
 
The Equiton Industrial Partnership comprises 3 Limited Partners: Brixton plc 
have a 30% interest, Edger Investments Limited have 44% and The SE Industrial 
Unit Trust have 26%.The proceeds of sale received by the Equiton Industrial 
Partnership will be used to repay all of its outstanding indebtedness, and any 
remaining amounts will be distributed to the Limited Partners. 
 
 
The assets comprise 42 predominantly South East multi-let industrial estates 
totalling approximately 2.8m sq ft. As at May 31st the assets were valued at 
GBP203.191m. 
 
 
Equiton was advised by Franc Warwick whilst King Sturge acted for the purchaser. 
 
 
 
 
For further information contact: 
 
 
+-------------------+-------------------------------+--------------------------+ 
| Peter Dawson      | Chief Executive               | 020 7399 4523            | 
+-------------------+-------------------------------+--------------------------+ 
|                   |                               |                          | 
+-------------------+-------------------------------+--------------------------+ 
| Steven Owen       | Deputy Chief Executive        | 020 7399 4532            | 
+-------------------+-------------------------------+--------------------------+ 
|                   |                               |                          | 
+-------------------+-------------------------------+--------------------------+ 
| Duncan Lamb       | Communications                | 020 7399 4535            | 
+-------------------+-------------------------------+--------------------------+ 
 
 
 
 
A copy of this announcement will be available on Brixton plc's website at 
www.brixton.plc.uk 
 
 
Neither the content of Brixton plc's website nor any website accessible by 
hyperlinks on such websites is incorporated in, or forms part of, this 
announcement. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 CNTSFASAASUSELA 
 

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