Aberdeen buys £16.5-million Hemel Hempstead distribution warehouse (UK)

Aberdeen Asset Management has acquired Palmer & Harvey's (P&H) new distribution warehouse in Hemel Hempstead from Gazeley for £16.5 million (approx. €19 million).

Hemel Hempstead

The approx. 15,600-m² distribution warehouse.

Gazeley let the 168,000-ft² (approx. 15,600-m²) shed to P&H two months ago on a 25-year lease with five-yearly fixed uplifts.

Gerald Eve Associate George Underwood who advised Aberdeen Asset Management on the acquisition said: "This deal offered a rare opportunity to acquire a newly built South East distribution unit with annuity length income".

Gazeley was advised by CBRE and Savills.

Source: MJ2

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