Norwich Union Pension Trust has bought a retail warehouse in Union Street, Macclesfield, Cheshire from PDFM Property Partnership for £4.1m, relecting a yield of around 7%.
The 3,356 sq m (36,127 sq ft) unit is let to B&Q for a further 28 years. The DIY chain is paying £86.54 per sq m (£8.04 per sq ft), with the next rent review due in October 1999.
The store is adjacent to a new Halfords unit.
Wilkinson Williams and Lewis & Partners acted for Norwich Union and Knight Frank advised PDFM.
EGi News 08/11/96
