Warner Estates pays £5.165m for mixed-use portfolio
Warner Estates has bought a mixed-use property portfolio for £5.165m. The sale price reflects an 8.4% net initial yield on an income of £447,000pa.
The portfolio comprises:
- A 3,809 sq m (41,000 sq ft) industrial unit in Chequers Lane, Derby, which is let for a further 11 years at £143,000pa.
- A 2,627 sq m (28,286 sq m) Texas retail warehouse unit in Stockport, Greater Manchester, let for a further 12 years at £180,000pa;
- Two shop units in The Marlowes, Hemel Hempstead, Hertfordshire, let to Early Learning Centre and Richard Shops and producing £123,500 pa.
Mason Owen & Partners acted for Warner while Hillier Parker Fund Management advised the vendor.
EGi News 03/12/96
Warner Estates has bought a mixed-use property portfolio for £5.165m. The sale price reflects an 8.4% net initial yield on an income of £447,000pa.
The portfolio comprises:
A 3,809 sq m (41,000 sq ft) industrial unit in Chequers Lane, Derby, which is let for a further 11 years at £143,000pa.
A 2,627 sq m (28,286 sq m) Texas retail warehouse unit in Stockport, Greater Manchester, let for a further 12 years at £180,000pa;
Two shop units in The Marlowes, Hemel Hempstead, Hertfordshire, let to Early Learning Centre and Richard Shops and producing £123,500 pa.
Mason Owen & Partners acted for Warner while Hillier Parker Fund Management advised the vendor.
EGi News 03/12/96
