McKay Securities has bought a 2.7-acre logistics site in the South East for £10m.
1-4 Willoughby Road in Bracknell, Berkshire, is let to technology company Acal BFI and Accident Exchange, a vehicle recovery business, with a combined rent of more than £594,000.
McKay said the site has scope for redevelopment if the leases are not resigned in 2024. New logistics and self-storage developments in and around Bracknell have been leased to occupiers including audio-visual tech specialist Midwich, trade tyre supplier Bond International, and Big Yellow Group.
McKay’s deal represents a net initial yield of 5.6%. Gerald Eve advised the company.
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