Henderson acquires UK logistics portfolio

Henderson Global Investors’ UK Property Unit Trust has acquired a logistics estate in the southeastern UK town of Hoddeston for £74.5 mln (€87 mln).

The deal represents an initial yield of 6.8%.

The five-unit estate, comprising around 60,000 m2, was developed by Rosemount. It was acquired from a joint venture between SWIP & Goodmans.

Henderson was advised by Doherty Baines, while the seller was represented by CBRE.

Marcus Langlands Pearse, co-fund manager of the £900 mln Henderson Property Unit Trust, said: “The acquisition of this estate is in line with the fund’s strategy to target core, long-let logistics within the South East and positively contributes to the income profile of the fund. It follows our exit from the Ptarmigan portfolio in March - a portfolio of short income logistics sheds with a Northern and Midlands’s bias.’