CIN La Salle Investment Management has paid £22.67m for Gazeley Properties’ recently completed 43,366 sq m (466,792 sq ft) warehouse at Acton Gate, Stafford. The deal reflects a net initial yield of 8%.
The high bay warehouse is adjacent to Junction 13 of the M6 and is entirely let to Argos Distributors on a 30-year lease at £43.05 per sq m (£4 per sq ft).
Healey & Baker advised CIN while Lambert Smith Hampton represented Gazeley.
EGi News 17/03/97
