CB Hillier Parker - Andover, Walworth Industrial Estate, Crown Way

Date: 08 Jan 2002

ALSTOM Pension Trust Ltd, advised by CB Hillier Parker Investors, has acquired the long leasehold interest in Units 1-12 Crown Way, Walworth Industrial Estate, Andover from Clavell. The purchase price of £3,600,000 represents an initial yield of 8.3% rising to 9.2% in early 2002.

The 12 industrial/warehouse units, constructed in 1981, are arranged in two terraces and have been adapted to provide eight self-contained units. The estates has a floor area of over 70,000 sq ft with tenants including Saint Gobain UK Ltd and Billy Boy Frozen Foods.

Fiona Spencer-Jones, Director of CB Hillier Parker Investors, said: "The acquisition reflects the fund's commitment to high yielding investments with active asset management opportunities".

Crowson Bellman Gill Adams acted for Clavell.

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