Cushman and Wakefield Investors, on behalf of West Sussex Pension Fund, has purchased Unit 1, Gillette Way, Manor Farm Road, Reading from St James Group (part of the Berkeley Group) for £7.3 million (approx. 8.5 million), reflecting a net initial yield of 6.71%.
The property is let to Royal Mail Limited and Travis Perkins (Properties) Limited with an average weighted unexpired term of 13.5 years. King Sturge acted for St James and BNP Paribas Real Estate advised Cushman and Wakefield Investors.
Source: Cushman & Wakefield