20th Jun 2014 08:15
LONDON (Alliance News) - Custodian REIT PLC Friday said it has acquired a warehouse unit in Hamilton International Park, greater Glasgow, in a deal worth GBP1.8 million funded from its own cash resources.
The company did not name the seller.
The property, constructed in 1998, comprises a 38,164 square foot warehouse unit on a 2.41 acre site with an 80-space car park and a loading yard. Other occupiers on the 76-acre business park include Eden Spring, South Lanarkshire Council, HSBC Holdings PLC and John Lewis Partnership.
The property is currently let to Ichor Systems Ltd at a passing rent of GBP175,000 a year, reflecting a net initial yield of 9.01%. Ichor has agreed a ten-year lease expiring in May 2024 without break.
Custodian REIT shares were quoted up 2.3% at 112.50 pence Friday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Cust Prop Inc