The Cordea Savills-managed Charities Property Fund has acquired the Beam portfolio from Aberdeen Asset Management for £38.4m, reflecting a yield to the fund of 7.3%.
The mixed-use portfolio totals 250,022 sq ft across 10 assets in the South East and Midlands. The properties are more than 97% let and generate a net income of £2,852,844 per annum, with tenants including Waitrose, McDonald’s, Pets at Home and Matalan.
Savills associate director Christopher Brogan said: “The Beam Portfolio offers a strong mix of income-producing retail, industrial and office assets. It has been acquired at an attractive yield relative to market and will be a valuable addition to our client’s portfolio.”
Allsop acted for Aberdeen Asset Management; Savills advised Cordea Savills.
