INVESTMENT SALE
Client: M&G Real Estate
Single-let Distribution Centre
103,093 sq ft
£6.2 million
Acting on behalf of M&G Real Estate, GV marketed and sold the freehold interest in this prime, single-let distribution centre totalling approximately 103,000 sq ft.
The investment was acquired by Cabot Properties, an American based investment fund, for £6.2 million which reflected a net initial yield of 6.6%.
Prior to the investment sale, GV had previously acted on behalf of M&G in securing the letting of the unit to Menzies Distribution who occupy the property as a national distribution hub for newspapers and magazines.
Menzies took a 10 year lease on the property with a tenant only break clause on the fifth anniversary. At completion of the sale there was approximately 4.25 years term certain to the tenant’s break option.
Garry Howes
0113 200 3989
garry.howes@gentvisick.com
