Eskmuir Properties has acquired seven industrial units in Tewkesbury, Gloucestershire, from Hermes for £2.75m. The sale price reflects a net initial yield of 9.65%.
The units – totalling 5,395 sq m (58,075 sq ft) – were built in 1985 and are located at the Ashchurch Business Centre, 29-35 Alexandra Way, adjacent to Jctn 9 of the M5. Five are let on leases with 14 years to run and two remain vacant.
Hillier Parker represented the vendor and King Sturge advised the purchaser.
EGi News 13/08/96
