As part of the deal, Brixton has been granted a call option to purchase Pearl's 50% holding in the Premier Greenford Limited Partnership, giving Brixton 100% ownership and allowing it to re-structure the fund and to introduce new investors. The fund owns major distribution properties at Premier Park, Park Royal and Greenford Park, Greenford both in west London. The sites contain 793,000 sf of completed and let space; 42,000 sf pre-let; 66,000 sf of completed and vacant space and 37 acres of development land with planning consent for 816,000 sf of 'big-box' warehousing.

Brixton's Chief Executive Tim Wheeler said: 'Our research shows that there is good interest in participation in a vehicle dealing with the type of distribution product that we are creating at Premier Greenford. This strategy which could well lead to the creation of a prime South East based 'big-box' fund to complement both the core 100% owned portfolio of larger multi-let traditional estates and our smaller industrial Equiton fund.'