CBRE Global Investors has bought a 170,000 sq ft shed in Brackmills, Northamptonshire, from LondonMetric for £14.4m – a 5.5% yield.
The sale comes 18 months after LondonMetric bought the distribution facility – which had four months left on its lease – for £9m.
The company then regeared the lease on a new 10-year term.
Andrew Jones, chief executive of LondonMetric, said: “This is another very good asset that has performed strongly as a result of our active asset management. We will look to recycle the disposal proceeds into other accretive distribution assets.”
LondonMetric was advised by North Rae Saunders; CBREGI was advised by Lindley Mortimer.
