DTZ Investors has successfully acquired Hatch Industrial Estate in Basingstoke from Patrizia for £13.4m.
The acquisition of the 96,989 sq ft property reflects an initial yield of 5.87%. The estate is currently let to seven tenants, and the low average rent is £8.54 psf.
Tom Royston, associate director at DTZ Investors, said: “DTZ Investors are delighted to acquire this property, which fits with the funds strategy of acquiring well-located assets with diverse income profiles and into locations that will support long-term sustainable income offering growth potential.”
Knight Frank advised DTZ Investors on the deal. Fletcher King acted on behalf of Patrizia.
To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette
