Newly established property investment fund Leopard Capital UK has completed its third UK deal, purchasing a warehouse let to Booker Cash and Carry Group for £2.39m, a net initial yield of 6.75%.
The 35,527 sq ft property is let on a 25-year lease from February 2005 at a rent of £171,070 pa.
Tesco acquired Booker Cash and Carry Group in March this year for £3.7bn.
Leopard Capital, set up by Alex Fordyce last year, focuses on industrial and distribution assets across the south. The company is carrying out another fund raise to target well-located industrial properties in fringe London locations and across the South.
The company previously bought a retail and office unit in Basingstoke in January this year and in August 2017 it acquired a warehouse let to Amazon in Welwyn Garden City for £3.22m, reflecting a 5.5% net initial yield.
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