Eskmuir Properties has bought two warehouse units at Borehamwood from Equitable Life for £9.055m, on a yield of 8.85%.
One building of 7,300 sq m (78,600 sq ft) is let to Alstom UK on a 25-year lease from December 1995 at just under £592,000 pa, while the other unit of 3,170 sq m (34,150 sq ft) is let to Harman International Industries at £238,000 pa. Harman’s lease is 25 years from December 1994.
John Lamb, managing director of Eskmuir said the deal marks another step in its strategy of “acquiring the right product at an acceptable place at a time when market conditions are favourable”.
Eskmuir represented itself, while King Sturge advised Equitable.
EGi News 24/11/98
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