Aver Property, a joint venture between Ergo Real Estate and NFU Mutual, has sold an Oxfordshire industrial scheme so as to buy a City office block with the proceeds.
The jv sold its fully let, five-unit, 200,000 sq ft logistics hub in Bicester, Axis J9, to fund the purchase of Eden House, on Wilson Street, EC2, a 13,000 sq ft office. The block has been bought with vacant possession, and the developer will refurbish it by early next year.
Aver bought the site for the logistics hub in September 2019, before completing the scheme a year later. By March this year, it was fully let on straight 10-year leases to electric vehicle-maker Arrival and aluminium door manufacturer Origin.
