The City Office Park in Lincoln was acquired in Q2 2005 originally as part of a Syndicate Fund but was moved into the Cubic Property Fund in 2006. The property has performed well over its life time providing an annual rent of £100,000 secured to the excellent covenant of Barclays Bank plc. The property was sold in Q3 2017 for £1,240,000 which is 18% above valuation. This is an excellent example of Avignon’s ability to sell properties above market level.
Avignon Capital sells Lincoln asset