StockMarketWire.com - Regional REIT said it had agreed to sell the Tokenspire Business Park in Beverley, England for £11.1m.

The sale reflected a net initial yield of 7.0% and an uplift of 31% to the acquisition price.

The industrial estate extended to over 24 acres and consisted of 322,211 square feet of commercial space.

It was purchased in March 2016 for £8.5m.

The asset was sold by London and Scottish Property Investment Management on behalf of Regional REIT.

'The LSPIM active management approach resulted in a significant increase in the number of tenants within the estate, substantially increasing occupancy,' the company said.



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