Spanish buy Yorkshire Bank HQ
A Spanish private investor has bought Yorkshire Bank’s headquarters in Leeds from CBRE Global Investors for £16m – a net initial yield of 7%. The 76,344 sq ft building has been fully let to the bank since 1980. Savills acted for the vendor; Lewis & Tucker and Blackman Investments represented the purchaser.
CBRE GI sells Globe to Paloma
Paloma Capital has bought the Globe industrial park in Dukinfield, Greater Manchester, from CBRE Global Investors for £13.8m – a net initial yield of 9.1%. The 543,983 sq ft site comprises 22 units on 29 acres and tenants include Turner Bianca, Parker International and UK Power Reserve. Savills represented Paloma Capital; CBRE acted for CBRE GI.
LondonMetric bags trio of sheds
LondonMetric has bought three distribution warehouses from private investors for £21.8m – a 6.6% yield. The assets, in Castle Donington, Leicestershire; Royston, Hertfordshire; and Hemel Hempstead, Hertfordshire, are let to Hamleys, Howdens and Goodrich. LondonMetric was advised by CBRE, Dowley Turner Real Estate and David Baroukh Associates; the vendor was unrepresented.
Eyre Estate buys Geopost hub
The Eyre Estate has acquired a distribution hub on Skypark, Exeter, from St Modwen and Devon County Council for £8.7m – a 5.31% yield. The 59,869 sq ft asset is let to delivery firm Geopost. Savills acted for the Eyre Estate; JLL advised St Modwen.
Bellway to convert Berks offices
Clearbell Capital has sold Sterling Court in Bracknell, Berkshire, to Bellway Homes for £5m. Two office buildings on the site are vacant and an outline planning application for 71 flats has been submitted. Bellway is expected to rework the planning application. CBRE acted for Clearbell.
