Henderson Global Investors, on behalf of a private client, has acquired a 138,000 ft² (12,780 m²) industrial unit from Invista, for £8.9 million (10.5 mln.) at a 7.25% yield. The property, located at Sherwood Business Park, in Nottingham, is let to Prolog on a 19.5 years unexpired lease. The rent is rack-rented at £4.95 per ft².
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The property is located in Nottingham.
Darren Downs, senior portfolio manager at Henderson, said: "The Prologis unit fits well within our client requirements. We recognised an excellent opportunity to acquire an asset offering good long-term investment prospects, given the rare length of the lease and the quality of both tenant and building, at a secure yield of 7% plus. We are also optimistic that we will see further yield compression, allowing us to extract optimal performance for our investor"
Jones Lang LaSalle acted for HGI and Cushman & Wakefield for the vendor.
Source: Henderson
Jones Lang LaSalle acted for HGI and Cushman & Wakefield for the vendor.
Source: Henderson
