Heathrow estate sold for 16.2m

The Airport Industrial Property Unit Trust, managed by Scottish Widows Investment Partnership, yesterday completed the disposal of Mereside Park to Royal London Asset Management for a capital value of £16.2m reflecting a Net Initial Yield of 6.78 per cent. The fully let Heathrow estate, originally developed by BAA Lynton and funded by Scottish Windows in 1999 spans 116,447 sq ft. Knight Frank acted for Royal London and CB Richard Ellis acted for the Airport Industrial Property Unit Trust.