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Ashtenne concludes disposal programme with £31.5m sale
Ashtenne Industrial Fund, the specialist industrial property fund jointly managed by Aviva Investors and Warner Estate Holdings, has sold The Steel Park in Wednesfield near Wolverhampton to an undisclosed purchaser for £31.5m, reflecting a net initial yield of 8.62 per cent. The sale brings Ashtenne’s 2009 disposal programme to an end, the Fund having exceeded its 2009 sales targets with nearly £92m raised from 37 separate transactions since March 2009. The Steel Park is a 761,614 sq ft steel processing, storage and distribution complex, with additional office and training facilities and is set on a 60-acre site, including a 15-acre plot of land available for further development. The entire site is let to Corus UK until March 2026.
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