Allied Dunbar has bought the freehold of a distribution warehouse on Arthur Drive, Hoo Farm Industrial Estate, Kidderminster, Hereford & Worcester, for £2.1m from Electricity Supply Nominees. The deal reflects a net initial yield of 10%.
The 7,300 sq m (78,590 sq ft) unit is let to MCD Group for 25 years from December 1988 at £216,000 pa with five yearly upward only rent reviews.
Collingwood Rigby acted for Allied Dunbar while Grimley and ESN Property Investments acted for the vendors.
EGi News 01/07/96
