DTZ Investors has bought Watford Interchange industrial estate from AXA Real Estate for £7.49m.
The acquisition of the 59,384 sq ft site reflects a net initial yield of 5.61%.
William Forster of Valore Real Estate, who advised DTZ Investors, said: “We hope to develop our presence in the investment market through further acquisition advice to a range of institutional and private clients, and this compliments the asset and property management work we are currently undertaking across London and the South East.”
AXA Real Estate was advised by JLL and Whitmarsh Holt Young.
DTZ Investors has appointed Strutt & Parker as letting agents for the estate.
