Threadneedle Property Investments has bought a 62,250 sq ft shed in Hertfordshire from RREEF UK Property Ventures Fund No.3 for just under £5m.
Threadneedle purchased the long leasehold interest of Fourth Dimension in Letchworth for £4,825,000, representing a net initial yield of 7.9%.
The terrace of industrial units on the Letchworth Business Park were let to Stapleton (Tyre Services) and Charleswaters providing a rental income of £402,782 per annum.
Threadneedle Property Investments was represented by Capita Symonds; Lindley Mortimer acted for RREEF UK Property Ventures Fund No.3.
Nick.whitten@estatesgazette.com
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