Barings offloads Hertfordshire industrial estate

Barings has completed the sale of Haslemere Industrial Estate in Bishop’s Stortford to real estate private equity investor Westbrook for £12.75m. The 75,000 sq ft property comprises 13 units ranging from 3,150 sq ft to 13,700 sq ft. Twelve of the units are let to 10 tenants, with the final one under offer. Barings bought the Hertfordshire estate on behalf of a UK-based private pension fund client in January 2016. Darren Hutchinson, managing director and head of UK real estate transactions at Barings, said: “Having successfully executed our business plan, we are pleased to have reached agreement on this disposal to Westbrook. “The rental and capital value growth over our period of ownership has been strong and reinforces why industrial and logistics remains one of our preferred sectors for further investment.” His European counterpart, Gunther Deutsch, said: “We continue to be very active in the sector and are currently working on a secured logistics pipeline representing a volume in excess of €640m (£551m).” Knight Frank acted on behalf of Barings. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews See which agents are doing the most industrial deals in the South East >>