Closed-ended investment company O Twelve Estates has announced a number of asset management activities, aimed at extracting value from its portfolio. The company has sold the Bulgins Site site, in Essex, Eastern England, for £5.5mln (EUR 7mln). The 2.2 acre site was originally acquired by O Twelve in July 2007 to create an industrial development.
Closed-ended investment company O Twelve Estates has announced a number of asset management activities, aimed at extracting value from its portfolio. The company has sold the Bulgins Site site, in Essex, Eastern England, for £5.5mln (EUR 7mln). The 2.2 acre site was originally acquired by O Twelve in July 2007 to create an industrial development.
The company also said it has completed two lettings at the 226,000 sq ft (21,000 m2) Interchange Swanley property which was acquired in April last year. Sainsbury's Supermarkets has taken 115,000 sq ft at a rent of £6.75 per sq ft on a 10-year lease and Toyota has taken 8,000 sq ft also on a ten-year lease at a rent of £7.75 per sq ft. Approximately 75,000 sq ft of space is still to be let at Interchange Swanley and is being marketed by Jones Lang LaSalle and Glenny.
Rugby Asset Management, a subsidiary of Rugby Estates, is property adviser to O Twelve.
