CW swallows up food shed
GE Capital Real Estate has sold a warehouse in Park Royal, West London, to CW Investors for £11m – a sub-6% yield. The 58,000 sq ft shed is let to Bakkavor Foods for a further 14 years at £683,000 pa. Lindley Mortimer and Cordatus Real Estate acted for the vendor; BNP Paribas Real Estate advised the purchaser.
Artesian offloads City block
Boultbee has bought 50-52 Paul Street, EC2, from Artesian Property Partnership for £9.3m – a 6.30% yield. The six-storey office block is fully let to British restaurant concessionaire Select Service Partner. Aurum Real Estate acted for Boultbee; Artesian was unrepresented.
Co-op deal for Chancerygate
Chancerygate Asset Management has bought the Provident Industrial Estate, a multilet industrial park in Hayes, West London, from Co-operative Estates for £4.1m – a yield of 8.5%. The 48,000 sq ft estate comprises seven properties. Edgerley Simpson Howe acted for Chancerygate; DTZ advised Co-operative Estates.
Princeton buys in Soho
The Lee family’s Princeton Investments has exchanged contracts to buy 12-13 Richmond Buildings, W1, from F&C REIT for just above the £3.4m asking price – a 4.25% yield. The 6,000 sq ft office block is earmarked for a potential residential redevelopment next year. Allsop acted for F&C; Finn & Co advised the purchaser.
UKFast logs in to Manchester
Web hosting firm UKFast has bought 1 Archway in Manchester from Laing O’Rourke for £3.2m. The 40,000 sq ft building, which has been empty since it was built 10 years ago, will house the city’s biggest data centre. DTZ advised the vendor; Savills was joint agent. UKFast was unrepresented.
