18 August 2009

BRIXTON ANNOUNCES SALE OF EQUITON PROPERTY ASSETS 

Equiton GP Limited has unconditionally exchanged contracts to sell all the property assets of the 

Equiton Industrial Partnership to Universities Superannuation Scheme Limited for a cash amount of £196m, reflecting a net initial yield of 8.7% off the contracted income. The completion date is 28 September 2009. 

The Equiton Industrial Partnership comprises 3 Limited Partners: Brixton plc have a 30% interest, Edger Investments Limited have 44% and The SE Industrial Unit Trust have 26%.  The proceeds of sale received by the Equiton Industrial Partnership will be used to repay all of its outstanding indebtedness, and any remaining amounts will be distributed to the Limited Partners. 

The assets comprise 42 predominantly South East multi-let industrial estates totalling approximately 2.8m sq ft. As at May 31st the assets were valued at £203.191m.  

Equiton was advised by Franc Warwick whilst King Sturge acted for the purchaser.

For further information contact:

A copy of this announcement will be available on Brixton plc's website at www.brixton.plc.uk

Neither the content of Brixton plc's website nor any website accessible by hyperlinks on such websites is incorporated in, or forms part of, this announcement.