ATIS REAL Weatheralls - Industrial Sale - Ipswich, Ranelagh Road

Date: 28 Nov 2002

Credit Suisse Property Investment Management Ltd, acting on behalf of Langbourn Income & Growth Unit Trust, has sold a retail warehouse investment on Ranelagh Road, Ipswich for £2,625,000, reflecting a net initial yield of 8.64%.

The property comprises two 1980s retail warehouse units totalling 43,645 sq ft (4,054.51 sq m) let to Glyn Webb Wallpapers Ltd and Orwell Motorcycles Ltd with unexpired terms of approximately 12.5 and 9.5 years respectively. The units are let at rents of between £4.44 and £5.97 per sq ft (£47.79 and £64.26 per sq m).

ATIS REAL Weatheralls advised Credit Suisse Property Investment Management Ltd.

The purchaser, The Junction Partnership Limited, a JV between Morley Fund Management and Capital & Regional, was advised by King Sturge.

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