Private equity fund Henley has disposed of a commercial site in Northampton for £12.7m, attracting an internal rate of return of 82%.
The UK private equity firm sold the 105,000 sq ft site on Brackmills business park to institutional investor CCLA following a restructure of tenant iPSL’s lease.
The lease expires in March 2022 and has a current rent of £1.2m. The initial yield on the sale was 9.53%.
Henley originally purchased the asset in 2012 for £6.7m.
Lambert Smith Hampton advised Henley; Deloitte advised CCLA.
