Warburg-Henderson has acquired the freehold interest in a newly developed distribution warehouse at Drum Industrial Estate, County Durham on behalf of its European Core Property 1 Fund from Gladman Developments Ltd for £16.25 million (approx. 19.18 mln.), reflecting a net initial yield of 6.69%.
This is the second UK purchase Warburg-Henderson has made for its pan European fund, which is seeking well located and let high quality assets with security of income. The fund is continuing to explore further UK opportunities.
Drivers Jonas Deloitte advised Warburg-Henderson and Strutt & Parker advised Gladman Developments Ltd.