60JI Cred Ag Co 29

RNS Number:4731Q
Brixton Estate PLC
6 September 2000



BRIXTON SELLS #20.25m READING BRIDGE HOUSE

In accordance with its ongoing strategy of focusing on the South East
industrial, warehouse and business space markets Brixton Estate plc has
exchanged contracts to sell the 115,000 sq ft office building, Reading
Bridge House in Reading, to The Royal Bank of Scotland plc as Custodian
Trustee of the Diageo Pension Scheme for #20.25m.  Completion of the
sale is due on 18th September.

The property which is marginally overrented produces #1.82m pa with 60%
of the income secured until 2010 and the acquisition will show the
purchaser a net yield of 8.5%.

The sale gives Brixton a small surplus over the June 2000 interim
valuation of #20m and compares with the December 1999 year end
valuation of #19.25m.

Insignia Richard Ellis acted for Brixton with Savills Fund Management
advising the purchaser.


For further information contact:

Tim Wheeler              Brixton Estate           020 7400 4426

Steven Owen              Brixton Estate           020 7400 4432

Paul Davies              Financial Dynamics       020 7269 7219

Ben Foster               Financial Dynamics       020 7269 7247

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