UK - Hermes Real Estate has acquired a series of commercial properties, known as the ‘Hawk' portfolio, on behalf of the BT Pension Fund.

The 18 properties, mostly based in and around London, were bought from F&C REIT Asset Management for £55m (€61m), reflecting a yield of 7.7% and exceeding the guide price of £51.2m.

The portfolio covers 603,711 square feet of commercial space, including five offices, eight industrial properties, two retail warehouses and a car showroom.

The annual rental income is £4.46m and the unexpired lease term is 7.45 years, excluding break clauses, while 31% of the rental income is secured over 10 years.

Tenants include McDonald's, Midland Co-Operative Society, University of Bristol, Staples UK, Pizza Hut and Wolseley.
 

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