Picton Property : PCTN and SEGRO : SRGO – asset swap

Picton Property has swapped its investment in Magna Park, Lutterworth for SEGRO’s investment in Parkbury industrial estate in Radlett, Hertfordshire. Picton sweetened its side of the deal by paying SEGRO an additional £6.5m

Parkbury is a 32,810 sq m multi-let industrial estate located between junctions 22 and 21a of the M25 with 24 units and a net initial yield of 6.3%.

Picton were keen to sell Lutterworth as the rental contract with Primark is up for renewal in 2016.

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