Segro, formerly known as Slough Estate, said it has agreed with Legal & General Property on the acquisition of the Airlinks Trading Estate, an industrial property near Heathrow airport, for £31 mln (EUR 45 mln). The company added that it is selling to L&G a portfolio of six assets, across various sites in the UK, for £103 mln. The Airlinks Industrial Estate was built in the 1980s, and includes 24 industrial units which are fully let, with an average lease period of three years. Current rental income is £1.6 mln per annum.

Segro, formerly known as Slough Estate, said it has agreed with Legal & General Property on the acquisition of the Airlinks Trading Estate, an industrial property near Heathrow airport, for £31 mln (EUR 45 mln). The company added that it is selling to L&G a portfolio of six assets, across various sites in the UK, for £103 mln. The Airlinks Industrial Estate was built in the 1980s, and includes 24 industrial units which are fully let, with an average lease period of three years. Current rental income is £1.6 mln per annum.

The portfolio being sold comprises six sites covering some 83,000 m2 of space. The portfolio is currently 90% let with an average lease of 6.5 years. Rental income comes to £4.6 mln per annum. Andrew Gulliford, director of corporate acquisitions at Segro, said: 'This transaction is a further example of our policy of actively managing and recycling our UK portfolio. We continue to acquire in prime business centres, such as the Heathrow area, where we are already well positioned and remain very positive about the opportunity for rental growth. Overall we remain net sellers in the UK, particularly where assets are no longer a good fit with the strategic clusters that form our core portfolio.' King Sturge represented Segro in the transaction.