Delancey Real Estate has sold Trafalgar Trading Estate in north London for £27.45m (£32.8m) on behalf of a domestic pension fund client.
The sale price of property, sold to logistics investor Valor Real Estate Partners, reflects a net initial yield of 3.73%.
Trafalgar Trading Estate comprises 11 units across 79,000sqft of industrial space in the Brimsdown Business Area of Enfield. The main occupiers include Rexel, Fairfax London, and Howdens.
Dan Berger, director of property and funds at Delancey, said: “This disposal provides another positive outcome for our client as part of the rebalancing of their portfolio to deliver sustained returns to their members. It also highlights a key principle of our proactive core approach which is being prepared to sell assets.”
He added: “We have a long and demonstrable track record of being an active and determined seller to achieve solid exit values even in softer transactional markets, as this sale demonstrates.”
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