Warner Estate has bought the 126,400 sq ft Immanis distribution warehouse in Brackmills Distribution Park, Northampton.
The investment company, through its Radial Distribution Fund, bought the warehouse from Standard Life Investments’ Pooled Property Pension Fund for £8m, reflecting a 7.1% yield.
The Radial Distribution Fund was set up by Warner and Bank of Scotland in 2003 and currently has nine properties located at major transport intersections across the country.
Immanis is near the M1 near Northampton and is let to Panasonic.
Standard Life was advised by Burbage Realty. Bushe Gower advised the Radial Distribution Fund.
References: EGi News 22/08/05
