The largest prelet in Northamptonshire in recent years has been forward sold to Arlington Securities for £37.5m – a net initial yield of 6%.
The sale of the 473,689 sq ft distribution centre by Hampton Brook Development, which developed it jointly with CJC on the site of a former ironstone quarry in Desborough, follows the prelet of the building to logistics giant Great Bear Distribution on a 10 year lease at £4.75 per sq ft.
The warehouse and associated offices will service Great Bear’s contract with Master Foods and will be used for the storage and distribution of Mars chocolate products.
Hampton Brook said opportunities for units up to 160,000 sq ft were available at the 50 acre site.
CBRE represented Arlington Securities.
