Custodian REIT has bought four industrial units totalling 23,250 sq ft on Hilton Business Park in Derby for £1.975m.
The units are occupied by MP Bio Science, Shakespeare Pharma and Jangala Softplay. They have a combined rent of £134,065 per annum and reflect a net initial yield of 6.39%.
Custodian Capital managing director Richard Shepherd-Cross said: “We are delighted to have secured this modern industrial asset at an attractive yield. This acquisition pre-emptively deploys the disposal proceeds from some smaller retail asset sales expected to complete during December 2020, providing the company with more potential for long-term rental growth.”
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