The Royal Ordnance (Crown Service) Pension Scheme, advised by Hillier Parker fund management, has acquired £7.43m of property in the south east.
It has bought the freehold interests in the 4,180 sq m (45,000 sq ft) Brook Industrial Estate in Hayes and 10 Stoke Gardens, Slough, for £4.6m, reflecting an initial yield of 8.5%. The estate generates a rental income of £320,000 pa and the 622 sq m (6,700 sq ft) office building is let at £87,250 pa. John D Robertshaw & Co acted for the vendor.
In a separate deal, the fund has also bought the freehold of Arbour House in Bracknell from AMP Asset Management for £2.83m, reflecting an initial yield of 6.8%. A rent review is imminent at the 1,253 sq m (13,000 sq ft) property, which is full let to Miles 33. Grimley acted for AMP.
EGi News 13/2/1998
