23rd Jun 2014 07:01
LONDON (Alliance News) - Custodian REIT PLC Monday said it has acquired a parcel distribution depot at Bermuda Park, Nuneaton in a deal worth GBP3.0 million, funded from its own cash resources.
The property investment company did not name the seller.
Custodian REIT said the 37,000 square feet specialist parcel depot benefits from 38 cross-docked loading doors on a site of 3.26 acres, which represents a very low site cover.
The property is let to DX Network Services Ltd on a 15 year lease, expiring in August 2016, at a passing rent of GBP242,000 a year, reflecting a net initial yield of 7.75%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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