Legal & General snaps up South-East industrial estate for over £20million

LGIM Real Assets (Legal & General) announces that it has acquired Lineside Industrial Estate in Sussex for £21 million.

The south east industrial estate has been bought on behalf of Legal & General’s Managed Property Fund from Cording Real Estate Group, the European real estate investment and asset management firm.

It is let to 22 tenants at an average headline rent of £5.43/sq ft with a weighted average unexpired lease term of 5.2 years to expiry and 3.0 years to tenant breaks.

Full press release, via the link below

This is a great buy for the Fund, providing a rare opportunity to purchase a relatively large south east industrial asset within a supply-constrained market... which will deliver strong returns to our investors.

Mark Russell, Senior Fund Manager of the Managed Property Fund

For further information

Faye Bennett

Faye Bennett

PR Manager

LGIM Real Assets

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