DTZ Investment Management advised by Allsop has disposed of six good quality industrial properties in strong regional centres across the UK.
The properties were purchased by Boultbee for £18.575m, reflecting a net initial yield of 8.8%.
The majority of the portfolio is modern, well-let stock with a strong occupier profile and also offers immediate asset management and re-gear opportunities to improve the income stream.
Providing a total of 28,335 sqm (305,000 sqft) of industrial and warehousing accommodation, the properties are let to 15 tenants and produces a total income of circa £1,730,000 per annum.
The properties are located in Gateshead, Oxford, Hemel Hempstead, Milton Keynes, Nottingham and Sheffield.
DTZ Investment Management’s Associate Director, Tony Gibby commented “Following an aggressive investment programme over the past 9 months we have identified a number of assets as disposals. The sale proceeds will be recycled along with the remaining £600m we have to invest across a number of clients”.
Clive Boultbee Brooks commented “Boultbee has recently refocused its efforts on the UK and this stock forms part of our planned £250M portfolio of prime retail and industrial assets.”
Aurum Real Estate advised Boultbee and Allsop advised DTZ Investment Management.
Notes to editor
Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.
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