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USS Buys Basildon Business Park

LONDON-The Universities' Superannuation Scheme has bought the Yardley Business Park in Basildon, Essex, from a joint venture between Minton Group and Mirravale Group for over pounds 26 million ($41 million).

By Graham Parker | Updated on March 25, 2003

LONDON-The Universities’ Superannuation Scheme has paid over £26 million ($41 million for the Yardley Business Park in Basildon, Essex, where a joint venture between Minton Group and Mirravale Group was developing around 380,000 sf of predominately industrial and distribution space on a 17-acre site.

The scheme, situated opposite the Pipps Hill Retail Park, incorporates a new office and distribution facility for Konica UK; warehouses for PMS and Churchill Insurance and a range of other industrial units let to such tenants as General Electric and Howden Joinery. Further phases, including a car showroom pre-let to MG Rover and a speculative trade counter terrace, are to commence shortly.

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