Urban Logistics, an AIM-listed logistics investor, has spent £34.3m on a new site in Hertfordshire.
The 12-acre site in Hoddesdon comprises five units, three of which are let to dairy food company Müller UK & Ireland Group until 2030 with a passing rent of £8.75 per square foot.
The other two units are vacant, and Urban Logistics said several potential occupiers have shown interest in taking the space.
The deal reflects a net initial yield of 5.4%.
Urban Logistics is spending money raised during an equity issuance earlier this year.
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