Lockhart Holdings, a private family trust which has been investing in property for the past six years, has made its first portfolio purchase with the acquisition of six properties for £2.735m. The sale price reflects a yield of 9.75%.
The properties are predominantly let on long leases. They include a warehouse in Bury St Edmunds, Suffolk, occupied by BT, and an industrial building in Chichester let to West Sussex County Council with 20 years unexpired.
St Quintin represented the pension fund which sold the portfolio. Poulston Lees advised the purchaser and the investment was introduced by Chapman Petrie.
EGi News 10/9/96
