CBRE Global Investors, the global real estate investment firm, announces the completion of three acquisitions for a total of £23.4 million (approx. 29.5 million).
An industrial unit in Sunbury, Surrey, has been acquired for a cost of £7.75 million (approx. 9.79 million) / £108.40 psf. The unit is currently let to Booker Ltd, the UK's largest cash and carry operator, until April 2021.
Beckett Retail Park, close to Northampton town center, has also been acquired. At a cost of £5.71 million (approx. 7.21 million) / £164.29 psf, the park is 85% occupied and was acquired off-market.
The third acquisition is Woolborough Lane Industrial Estate in Crawley, Sussex. The estate is located close to Gatwick Airport and benefits from good transport links, being directly accessed by the A2011.
Ian Wilson, Fund Manager, said: "We are delighted to complete these three acquisitions which have been purchased for their secure income, as well as for medium-long term asset management initiatives. All three properties have good income streams, let to excellent covenants and good quality locations which are all in line with our client's investment criteria".
Source: Citigate Dewe Rogerson