General Accident has paid ICI Estates £15.8m for the Great Mills unit at Western Approach, north Bristol, in the first investment deal at the chemical giant’s massive distribution park. The deal reflects a 7.5% yield.
The 23,225 sq m (250,000 sq ft) shed is occupied by Great Mills’ national distribution facility for 25 years at £53.39 per sq m (£4.96 per sq ft). The DIY company was the first occupier at ICI’s industrial scheme, which has room for 220,000 sq m (2.35m sq ft) on completion.
King Sturge advised ICI while Strutt & Parker acted for GA.
EGi News 07/07/97
