UK funds are circling Goodman’s and Scottish Widows Investment Partnership’s Hoddesdon Commercial Park in Hertfordshire.
Several offers of around £75m – a yield of 6.75% – have been submitted for the rail-connected park just north of the M25.
PRUPIM, Aberdeen Asset Management, Standard Life, Legal & General Property and F&C REIT are all understood to have run the rule over the park.
A source said: “No decision has been taken as yet, but it has attracted a lot of interest from UK funds.”
Hoddesdon comprises five sheds totalling 650,000 sq ft which are let to Wincanton, Culina Logistics, Cortland Fibron, Recall and Norbert Dentressangle.
Goodman acquired the site in January 2005 with the benefit of an outline planning permission for 895,000 sq ft.
It then spent six months negotiating with Network Rail, Hertfordshire county council and Broxbourne borough council to get the infrastructure in place.
In December 2005, Goodman signed a deal with SWIP to develop the scheme in three phases through a joint venture company, with the parties financing the development on a 50:50 basis.
CBRE is advising Goodman and SWIP.
nick.whitten@estatesgazette.com
