Scottish Widows Investment Partnership, which invests for the Lloyds TSB Group Pension Trust, has sold three units on an industrial park near Falkirk in south east Scotland for £7.6m. The deal reflects a net initial yield of 7.5% with a reversionary yield of 8.5%.
The three sheds are located at Central Business Park in Larbert and comprise 14,864 sq m (160,000 sq ft). They have been acquired by Jones Lang LaSalle’s investment team on behalf of a private investor. Falkirk council is the leaseholder of all three sheds but has sub-let the accommodation.
Central Business Park is a recent initiative set up by Falkirk council. The entire park extends to approximately 19ha (47 acres) and comprises seven existing buildings, together with a range of sites offering potential for further development.
Graham Sanders of Sanders Cartwright acted on behalf of Scottish Widows Investment Partnership.
EGi News 04/07/01
