Ignis UK Property Fund has bought Solar Park industrial estate in Solihull from Friends Life Company for £22.7m – a 7.59% yield.
The freehold interest was sold on behalf of Friends Life Company, a fund managed by AXA Real Estate Investment Managers.
Solar Park comprises a multi-let industrial estate totalling 285,000 sq ft, which is fully let to seven tenants and produces rent of £1.8m pa.
GVA acted for Ignis; BNP Paribas Real Estate and Collingwood Rigby advised Friends Life.
nick.whitten@estatesgazette.com
