F&C Property Trust completes Revolution Park purchase

  F&C Commercial Property Trust has completed the purchase of Units 6 and 8, Buckshaw Ave, Revolution Park, Chorley, for £24.6m.   The company said the deal reflected a net initial yield of 9.15%.   Revolution Park is a new distribution warehouse development on 128 acres and is located one mile west of Junction 8 of the M61 and two miles east of Junction 28 of the M6.   On completion, the property will be let to Kimberly Clark on an 11 year lease, subject to a rent free period of 12 months. The lease provides for fixed 2% annual uplifts.   F&C added that it has also sold its remaining units in both the Industrial Property Investment Fund and The Mall for a total of £9m.   It said after these sales, its portfolio comprises only investments in directly held property.   The company also announced today the letting of the former Borders Books unit at Newbury Retail Park to Marks & Spencer Simply Food, at a commencing rent of £300,000 a year subject to a rent free period of nine months.    nathan.cross@estatesgazette.com