Dwyer Estates has launched a £100m buying spree with a £35m acquisition from Argyll Property Asset Managers.
Joey Esfandi, Dwyer chief executive, said: “The acquisition is part of our policy to buy better quality stock and we are now actively in the market with at least £100m to spend on the right product.”
The company bought a mixed 19-property portfolio on an average yield of 8.3% although certain properties reflect 6%. Predominantly in the South East, the property comprises 40% offices, 40% retail/retail warehouses and 20% industrial.
High profile tenants include Dixons, Diageo, McDonalds, Great Mills, Vodafone, Tempo and Burton Group. Office locations include Sevenoaks, Kent and Richmond, Surrey.
Knight Frank acted for Dwyer, while Donaldsons advised Argyll.
EGi News 30/06/99
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