Portfolio chimes with Clearbell
Clearbell Capital has gone under offer to purchase the 218-acre Stephenson Portfolio of industrial assets from Dave Newett’s Stirling Investments for £84m – a 9.1% yield.
The 15-strong portfolio is weighted towards Yorkshire, with assets in the South of England, North West and North East.
Deloitte Real Estate advised Clearbell; JLL acted for Stirling.
Mayfair roars for Red Lion
Mayfair Capital has bought 20 Red Lion Street, WC1, from Stena Realty for £19m – a 5% yield.
The 32,000 sq ft office block is let to law firms Abel & Imray and Kilburn & Strode.
Deloitte Real Estate acted for Mayfair Capital; Trinova Real Estate advised Stena.
JR lights up with Bucks buy
JR Capital has paid £5m for the UK headquarters of lighting manufacturer Zumtobel – a 5.65% yield.
The 11,500 sq ft Chiltern Park, in Chalfont St Peter, Buckinghamshire, was built in 2012. Allied Irish Bank financed the purchase.
Cyril Leonard acted for JR Capital; ADS Real Estate advised the private family trust vendor.
Derwent and LaSalle City swap
Derwent London has traded 22 Kingsway, WC1, Mark Square House, EC2, and a 50% interest in 9 and 16 Prescot Street, E1, for 20 Farringdon Street, EC1 in an asset swap with LaSalle Investment Management.
LaSalle paid £27.3m, reflecting the difference in value between the £88m 20 Farringdon Street and the £115.3m Derwent assets.
CBRE advised Derwent London; Colliers International and Cortex Partners acted for LaSalle.
Cordea Savills buys Leeds block
Cordea Savills has bought Catalyst Capital’s Albion Court in Leeds for £9.7m – a 6.35% yield.
The 30,762 sq ft block is let to Pizza Express and Byron.
Savills acted for Cordea Savills; Knight Frank acted for Catalyst.
