Liverpool Victoria Asset Management, acting on behalf of its Staff Pension Scheme, has acquired a distribution warehouse at Relay Park, Tamworth for £3.8m.
The deal reflects a net initial yield of 6.62% with the prospect of a reversion to over 7% in 2006.
The 55,338-sq ft property is let to FX Coughlin, a subsidiary of Exel, for 15-years from December 1996.
The current rent is £268,000 pa (£4.85 per sq ft) and has a review in 2006.
Liverpool Victoria was represented by NAI Fuller Peiser, Birmingham.
The vendor, Royal Liver, was represented by Atisreal.
References: EGi News 26/10/05
