CBRE Global Investors (CBREGI) has completed two acquisitions in the English towns of Milton Keynes and in West Thurrock on behalf of a client.
CBRE Global Investors (CBREGI) has completed two acquisitions in the English towns of Milton Keynes and in West Thurrock on behalf of a client.
The first acquisition involves two retail warehouse units in Grafton Court, Milton Keynes. The freehold units have been leased to CDS for 25 years and Wren Kitchens for 10 years; a 20.8-year lease average. The units were acquired for £12 mln (€14.5 mln) and are located in a prominent shopping destination, Winterhill.
The second acquisition involves two industrial units in West Thurrock, which are let for an average lease length of six years to DHL Global Forwarding UK and Harrow Green. The units, which were built in 2000, were acquired for £7.9 mln and will not require capital expenditure in the short term. West Thurrock is located in an established commercial and industrial centre 18 miles east of central London and close to the M25.
Edgerley Simpson Howe acted for CBRE Global Investors on Milton Keynes.
Strutt & Parker acted for CBRE Global Investors and Jones Lang LaSalle acted for the vendor on West Thurrock.
