22nd Apr 2015 08:07
LONDON (Alliance News) - Real estate investor McKay Securities PLC on Wednesday said it has struck a deal to acquire a freehold distribution unit in Berkshire for GBP10.7 million.
McKay said the unit, based near the Arlington Business Park in Berkshire, is currently let to logistics and warehousing group Kuehne & Nagel until 2020 on an annual rent of GBP750,000. The purchase price represents an initial yield of 6.6%.
"This is an excellent opportunity let to a first class operator. The supply of warehouse accommodation in such close proximity to the M4 motorway is limited, and the location, size and large secure yard are all positive characteristics that will appeal to occupiers," said McKay Managing Director Simon Perkins.
Shares in McKay were up 0.8% to 255.00 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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