Mayfair Capital Investment Management has bought the freeholds on two neighbouring distribution centres on Trax Park, Doncaster, for £19.5m, through its Property Income Trust for Charities.
The South Yorkshire purchase reflects a net initial yield of 6.55%, with the properties covering 308,500 sq ft fully let to Wincanton at a rent of £1.3m annually until 2022.
The investment will become the largest holding in the fund and will increase its weighting to industrial property to 29%.
The buildings were sold by Caudwell Properties. Colliers International advised the vendor on this transaction, while Deloitte RE advised Mayfair Capital.
PITCH fund director and Mayfair Capital chief executive James Thornton said: “Doncaster is an attractive distribution location with strong demand and a diminishing supply of good-quality space. The acquisition provides PITCH with an attractive net initial yield and a strong tenant, which sits very well with our investors”.
chris.berkin@estatesgazette.com
