DTZ Investors has successfully acquired Hatch Industrial Estate in Basingstoke for €15.9m (£13.4m) reflecting an initial yield of 5.87%. The prime multi-let industrial estate was constructed in 2007 and totals approximately 96,989ft². The property is currently multi-let to seven tenants with a WAULT of 5.1 years to earliest expiries. The property offers strong rental growth prospects and is passing off a low average rent of €10.15 (£8.54) psf.
Tom Royston, Associate Director at DTZ Investors, said: “DTZ Investors are delighted to acquire this property, which fits with the fund's strategy of acquiring well-located assets with diverse income profiles and into locations that will support long term sustainable income offering growth potential.”
Will Gubb, Partner at Knight Frank, added: “This was a rare opportunity to acquire an attractively priced south east multi-let industrial estate with a varied income profile and reversionary rental potential.”