Orchard Street Investment Management has bought the Rockingham Gate industrial park near Bristol for £10.7m.
The property was bought from the BP Pension Fund on behalf of the St James’ Place Property Unit Trust at a net initial yield of 5.95%.
Rockingham Park contains 104,254 sq ft of fully let space divided into four units, with tenants All Metal Services, Bunzl UK, Expeditors International and The Paper Company. The annual passing rent is £673,517. The site has a weighted average unexpired lease term of 2.5 years.
Savills advised for Orchard Street and Knight Frank acted on behalf of the BP Pension Fund.
