Eagle Property Fund has bought a retail warehouse on Newport Road in Cardiff from Halifax Building Society for £2.6m. The deal represents a yield of 8%.
The 2,601 sq m (28,200 sq ft) building is let to Woolsley Plumbing Centre and part sub-let to Kwik Save on a 25-year lease which expires in 2013. The investment generates £215,000pa.
Henderson Asset Management advised Eagle while Catella UK acted for the Halifax.
EGi News 14/01/97
