F&C Commercial Property Trust has completed the acquisition of two sheds in East Kilbride and Liverpool for a total of £33.3m.
The company has bought a 106,000 sq ft retail warehouse in the out-of-town retail area around Mavor Avenue in East Kilbride for £20m – a yield of 6.94%.
The property is let to B&Q for 18 years on a full repairing and insuring lease at a current rent of £13.85/sq ft.
In Liverpool, F&C has acquired a 360,000 sq ft shed let to Exel Europe for 10 years on a lease which started in March 2011 at a rent of £4/sq ft.
The purchase price of £13.3m reflects a yield of 10.25%.
Nick.whitten@estatesgazette.com
