AXA sells Harlow trade park for £10m
Published: 15 December, 2011
AXA Real Estate Investment Managers has sold Ascent Park to Standard Life Investments for £9.97m, representing an average yield of 6.2 per cent
The 5.6-acre Ascent Park is situated ito the north of Harlow town centre on Edinburgh Way. It comprises nine units fully let to eight tenants, including Safestore Trading, Multi-tile and Screwfix Direct and provides an average weighted unexpired term of 7.8 years.
Jones Lang LaSalle acted for AXA Real Estate while Drivers Jonas Deloitte acted for Standard Life.
James Owen, Senior fund manager at AXA Real Estate said: “This sale allows us to continue to benefit from the attractive pricing which is available as a result of investors continued appetite for well let assets that are well located and situated in the M25 region. We intend to use the proceeds from the sale to help a number of asset management opportunities we have identified within the rest of the portfolio.”
