Clearbell gets the green light
Aberdeen Asset Management selected Clearbell Capital to buy its 1.9m sq ft Amber Portfolio for £155m – a net initial yield of 8%. The portfolio’s 29 assets are spread across the UK in locations including Nottingham, Glasgow, Milton Keynes and Sheffield. Knight Frank acted for Aberdeen; BCM advised Clearbell.
Hermes buys in Hammersmith
Hermes Investment Management has completed its purchase of the freehold on 26-28 Hammersmith Grove, W6, from Tyburn Lane Private Equity, as revealed by EG in March. The 204,506 sq ft multi-let building was bought for £131m – a net initial yield of 4.11%. Farmer Capital and Savills advised Hermes; JLL acted for Tyburn Lane.
Bracknell block sold for £8.3m
Brydell Partners has acquired One Station Square in Bracknell, Berkshire, for £8.3m in joint venture with Brockton Capital. The 45,000 sq ft building, recently refurbished by Stanhope, is multi-tenanted, with three floors currently vacant. Knight Frank acted for Brydell Partners; Lambert Smith Hampton acted for Stanhope.
TH Real Estate shops for shed
TH Real Estate has purchased a 40,000 sq ft shed from Harwood Capital for £3.3m – a net initial yield of 6.4%. The shed on Parnham Drive in Eastleigh, Hampshire, is let to Travis Perkins until 2034. LSH advised TH Real Estate; Brown Cooper Marples advised the vendor.
LondonMetric has retail appetite
LondonMetric has bought five M&S Simply Food stores for £26m in a sale-and-leaseback deal. Four of the properties have been re-geared with 20-year leases, with the fifth let to M&S for 15 years and Aldi for 20 years. In total they produce £1.5m annually, giving an average yield of 6.3%. Both sides were unrepresented.
