Delin Capital Asset Management has bought a 172,415 sq ft distribution warehouse on Cabot Park in Bristol from Standard Life Investments for £12m, reflecting a net initial yield of 7.75%.
The building is let to Yankee Candle Company on a 15-year lease without break from March 2012.
The property provides inflation indexed income through five yearly rent reviews agreed at the higher of open market rental value or RPI.
Colliers International acted for Standard Life and Dowley Turner Real Estate acted for DCAM.
Delin has also agreed the forward purchase of a 186,400 sq ft distribution warehouse development in Waalwijk, The Netherlands, for €13m (£10.9m) from Roozen van Hoppen.
jack.sidders@estatesgazette.com
