12th May 2014 16:15
LONDON (Alliance News) - F&C UK Real Estate Investments Ltd said Monday that its subsidiary IPT Property Holdings Ltd bought a retail warehouse park in Bromsgrove for GBP7.55 million on May 2.
The warehouse park has an initial yield of 6.2%, the company said, and has units let to Homebase Ltd for 20 years at GBP362,500 per year and Pets at Home Ltd for 15 years at GBP132,750 per year.
Shares in the real estate investment company closed up 0.3% at 83.21 pence Monday.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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