Henderson Global Investors, on behalf of the £823 million Henderson UK Property Unit Trust (HUKPUT), has acquired a further prime holding to enhance its already robust and well let portfolio which holds over 50 assets with 115 tenants.
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The retail unit is let to Boots on a lease with 11 years unexpired.
The unit is situated within the High Street, Maidenhead, and is let to Boots on a lease with 11 years unexpired. It was purchased from Carvella Limited, for £6.62 million (approx. 8 million), which reflects a net initial yield 6%.
Ainslie McLennan, co-fund manager for the Henderson UK Property Unit Trust said: "Having focused on positioning ourselves at the more prime end of the UK property investment market, this is another solid purchase for the fund. We were keen to increase our high street retail sector holding, and are pleased to benefit from the 11 years of income to a blue chip business such as Boots.
"With our void rate now down to 2.5% and the excellent property and tenant diversification within the portfolio we are on track to maintain our high income distribution yield for investors and continue to outperform."
The average unexpired lease on the fund is 10.5 years and the retail holding has now increased to 35.7% with the remainder split between offices at 42.5% and industrial at 21.8%
Cushman and Wakefield acted for HUKPUT. DTZ acted for Carvella Limited.
Source: Henderson Global Investors
Ainslie McLennan, co-fund manager for the Henderson UK Property Unit Trust said: "Having focused on positioning ourselves at the more prime end of the UK property investment market, this is another solid purchase for the fund. We were keen to increase our high street retail sector holding, and are pleased to benefit from the 11 years of income to a blue chip business such as Boots.
"With our void rate now down to 2.5% and the excellent property and tenant diversification within the portfolio we are on track to maintain our high income distribution yield for investors and continue to outperform."
The average unexpired lease on the fund is 10.5 years and the retail holding has now increased to 35.7% with the remainder split between offices at 42.5% and industrial at 21.8%
Cushman and Wakefield acted for HUKPUT. DTZ acted for Carvella Limited.
Source: Henderson Global Investors
