SEGRO SELLS IQ FARNBOROUGH FOR £90.1M

DB Real Estate can confirm that property company SEGRO, has sold the entire IQ Farnborough, which is a mixed-use business park immediately adjacent to the Farnborough Airport, home to the Farnborough Airshow, for £90.1M

IQ Farnborough is the first of SEGRO’S six large non-strategic assets to have been sold since being highlighted as non-core at SEGRO’S Investor Day in November 2011.

The disposal has been structured in two parts. The existing built assets and 18 acres of development land have been sold to a joint venture between funds advised by Harbert Management Corporation and XLB Property as asset manager, for £79.7M.

In addition the sale of 11 acres of development land to two future owner-occupiers for £10.4M has been agreed. These latter sales are conditional upon receipt of planning approval and are expected to be finalised by the end of the year.

For more information, details of the income generated, etc., or for general commercial property advice please contact DB Real Estate on 01276 538300.