Shed developer puts impressive growth down to strong rental performance and acquisition of the Industrious property group.

Shed developer Brixton has posted a 65% hike in pre-tax profits to £288.9m, putting the rise down to an impressive rental growth performance and the acquisition of property group Industrious.

Brixton chief executive Tim Wheeler said: "The 2005 results reflect the success of our business plan of continuing to focus and concentrate on UK industrial property, especially in West London, together with the integration of our recent strategic acquisitions Trafford Park and Industrious.

Wheeler said that Brixton's rental growth performance differentiated it from competitors. He said that the rate of rental growth had accelerated in the core portfolio in the second half of the year.