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News Release

London

Substantial Industrial Estate Goes Under the Hammer in Next Jones Lang LaSalle Auction


London, 23rd February 2012 – 1-8 Thistlebrook Industrial Estate, Eynsham is available to buy via auction through commercial real estate firm Jones Lang LaSalle on Tuesday 6th March 2012.  The property provides a site that extends to about 1.04 hectares (2.57 acres), upon which eight industrial buildings have been constructed let to the London Borough of Greenwich.  The guide price is £4,500,000.

Jason Birch, Auctions Director at Jones Lang LaSalle, commented that: “It is a rare opportunity to buy an income which is guaranteed by the Local Borough for the next 92 years and as such we are anticipating this property to be extremely popular indeed.  Eynsham Drive forms part of the established Thistlebrook Industrial Estate situated in the London Borough of Greenwich.”

Commenting on the market, Felix Rigg, Principal Auctioneer and Director at Jones Lang LaSalle, said: “The current market offers genuine opportunities for a buyer to acquire commercial property at reasonable prices.  From their perspective, I think it really is a question of making hay while the sun shines and with the green shoots of economic recovery already in sight.”

For the full property particulars and to view the auction catalogue please visit www.joneslanglasalle.com/property-auctions

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Notes to editors:

- Long leasehold for a term of 125 years from 20 November 1979 at a peppercorn ground rent.
- The underlease provides for rent reviews at the expiration of each fifth year of the term. The rent payable is to be the higher of either the rent payable before the rent review or 77.143% of the "commercial yearly rent".
- Let to London Borough of Greenwich for 125 years (less 10 days) from 20 November 1979.
- The current rent is set at £260,590 per annum.
- The Jones Lang LaSalle Auction is taking place at Le Meridian Hotel, 21 Piccadilly, London W1J 0BH, Tuesday 6th March.  For further information contact Mat Harris on +44 (0)20 7087 5496 or Felix Rigg on +44 (0)20 7087 542