A Rodamco UK subsidiary, advised by asset management arm Haslemere Estates, has paid Shaftesbury £8.04m for Eastern Avenue Industrial Esate in Gloucester as part of a strategy to invest in warehouses.
The 13,000 sq m (140,000 sq ft) property produces a yield of 9%.
Haslemere has sold a landmark Birmingham office block – 78-90 Colmore Row – to an unnamed fund for £4.4m. The 2,420 sq m (26,100 sq ft) building is let to Chesterton International on a lease with 16 years remaining. The deal reflects yield of 7.5%.
Shaftesbury, which has just completed the £90m purchase of Carnaby Estate, W1, is concentrating on central London retail and leisure property.
The company is selling a 2,415 sq m (26,000 sq ft) vacant office building at 68/71 Newman Street, London, W1 to a property company for £2.9m. Shaftesbury has owned the building since 1989. Tenant Logica, which left in August, was paying a rent of £388,000 pa.
DTZ Debenham Thorpe advised Haslemere in Birmingham and Shaftesbury in Gloucester.
EGi News 16/12/1996
