Nadler buys London hotel site
Nadler Hotels has bought Walter House, WC2, from Legal & General Property, for £15.6m on behalf of its UK Property Fund. It is planning to develop a 56-bedroom boutique hotel under the Nadler brand. Gerald Eve advised Nadler Hotels; Legal & General Property was represented by CBRE.
Tritax snaps up DSG hub
Tritax Big Box REIT has bought a distribution centre in Newark, Nottinghamshire, let to DSG Retail for £77.3m – a 5.86% yield. The 725,798 sq ft facility has an unexpired lease term of around 20 years with 3% pa fixed rental increases every five years. DTRE acted for Tritax; Savills advised the vendor.
Cordatus on shopping spree
Cordatus Real Estate has made a further £15m of acquisitions for the Cordatus Property Trust, buying Avenue House, Belfast, a 21,500 sq ft office building with ground floor retail, and 5 Rise Shopping Centre, Bingley, with 63,500 sq ft of retail space and around 20 shops.
KF buys Harrogate retail park
Knight Frank Investment Management has bought a retail warehouse in Harrogate, Yorkshire, from Helical Bar for £7.1m – a 6.2% yield. The 25,250 sq ft property is let to Currys PC World and was bought on behalf of Ecclesiastical Insurance Office. Herbert Smith Freehills advised Knight Frank IM; Wilkinson Williams represented Helical Bar.
LondonMetric buys shed site
LondonMetric has bought a four-acre development site in Crawley, West Sussex, for £7.6m – a 6.3% yield. It is planning to develop 100,000 sq ft of distribution space at a cost of £20m. The land is on a south-east logistics estate, a mile from Gatwick airport. LondonMetric was advised by Volume Developments.
