21st May 2014 14:51
LONDON (Alliance News) - F&C UK Real Estate Investments Ltd Wednesday said it has bought a retail warehouse unit in Rotherham for GBP10.5 million and sold industrial units in Horsham for GBP5.05 million.
In a statement, F&C UK Real Estate Investments said the transactions were made through IPT Property Holdings, a subsidiary.
The retail warehouse unit's purchase price represents an initial yield of 7.4% and is let to B&Q until August 21 2029, with a tenant's break in 2024, at GBP810,346 per year. The unit was bought on May 16.
The industrial units in Horsham, which were sold on May 8, represent an initial yield of 10.1% and are currently let on leases expiring in 2018 and 2019. The property was valued at GBP4.75 million on March 31.
F&C UK Real Estate Investments shares were Wednesday quoted at 83.125 pence, down 0.2%.
By Samuel Agini; [email protected]; @samuelagini
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