Henderson Global Investor's £822 million UK Property Unit Trust (HUKPUT), has sold a retail warehouse in Cwmbran, Wales, to Prego Estates Limited for £3.8 million (approx. 4.3 mln.).
The 3,250-m² asset, which is let to Homebase, is located at the entrance to the town center and provides an income of £320,827 per annum.
In addition, the fund has disposed of Havant Retail Park, to Ankers & Rawlings, at a price of £5.15 million.
Marcus Langlands Pearse, co-fund manager for the Henderson UK Property Unit Trust said: "The disposals are in line with the fund's strategy, disposing of shorter income and more secondary properties and recycling the money towards longer income prime assets.
"The fund continues to perform well having grown in capacity from £683 million to £822 million, since Henderson took it over last year. We remain on target to maintain our high income distribution yield for investors and continue with our track record of outperformance."
The average unexpired lease on the fund is 10.5 years and the retail holding now stands at 25.3% with the remainder split between offices at 33.6%, industrial at 17.1%, leisure at 1.8%, and the rest in cash and equities.
On both sales, Savills acted for HUKPUT. Eagle Land acted for Prego Estates Limited and Lambert Smith Hampton acted for Anker's & Rawlings.
Source: Henderson Global Investors