McKay Securities has acquired a fully let logistics asset at 1-4 Willoughby Road in Bracknell, for €11.1m (£10m), representing a net initial yield of 5.6%. The property was sourced off-market from a UK institutional vendor. The 2.7-acre freehold estate consists of two modern, self-contained units totalling 54,157ft² with large secure yards. Following a recent refurbishment, one unit is let to Acal BFI UK Limited and the other to Accident Exchange.
Willoughby Road is a strategic logistics location in the heart of the Thames Valley and forms part of Bracknell’s principal established industrial estate. There has been significant new logistics and self-storage development in the immediate vicinity, attracting new occupiers such as Midwich Ltd, Bond International and Big Yellow Group.
Commenting on the purchase, Simon Perkins, Chief Executive of McKay, said: “Willoughby Road represents an excellent addition to our South East industrial portfolio, thanks to its prime location in central Bracknell, an area established as a top choice for leading occupiers. With availability in the local area already at an all-time low, and demand continuing to rise in line with accelerating e-commerce penetration, this high-quality earnings enhancing asset provides rental growth prospects and medium/longer-term redevelopment potential.”
