Columbus UK Real Estate Fund has bought the property holdings of London industrial specialist Alycidon Investments for £15m.
The price for the portfolio of nine industrial estates in Greater London that extend to 225,000 sq ft reflects an initial yield of 8.6% and a capital value of £65 per sq ft.
Columbus Capital Management acquired the portfolio through a new joint venture with Astranta Asset Management.
The portfolio had a vacancy rate of about 15% but the largest unit at Thamesmead has already been let at £130,000 per annum, reducing the vacancy rate closer to just 5%.
Strutt & Parker acted for Columbus Capital Management.
nick.whitten@estatesgazette.com
