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Insight sells £115m mixed portfolio

Estates Gazette 11.02.2006

Insight Investment, HBOS's asset management arm, has sold a £115m mixed portfolio at an initial yield of 6.3%.

The company sold the 11 office, industrial, retail and leisure properties with a total area of 615,000 sq ft to Propinvest Holdings.

Alan Tripp, head of group funds at Insight Investment's property arm, Insight Property, said “This sale sits well with our strategy to continue rationalisation of a large portfolio that has grown rapidly and position it for future growth.

“The entire sales process was concluded in just six weeks, highlighting a strong depth of demand for good quality assets.”

HP Four advised Propinvest.

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