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Follow on Google News | Lothbury sells Milton Keynes asset to Fairmont Properties for £4.5millionBy: Lothbury Investment Management The property has been in the LPT portfolio since it was launched in 2000 and was recently vacated by long standing tenants, Coca-Cola and Fujitsu. The building comprises c. 95,000 sq ft of industrial space over three units. Michael Toft, Senior Fund Manager and Executive Director at Lothbury Investment Management, said: “There was considerable interest in the asset. After two rounds of competitive bidding, the Fund has realised returns ahead of our redevelopment appraisals.” Fairmont Properties is a special purpose vehicle for automotive supply chain logistics and warehousing services company, MotorSense Ltd, who will occupy the building. Lothbury Investment Management was advised by Louch Shacklock and Cushman & Wakefield. Fairmont was advised by Aitcheson Rafferty. Lothbury Investment Management Limited (LIM) is an independent UK real estate investment manager with £1.76 billion assets under management. End
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