UK investor Picton has acquired a retail warehouse in Sheffield for £17.7 mln (€25 mln), reflecting a net initial yield of 6.6%.
UK investor Picton has acquired a retail warehouse in Sheffield for £17.7 mln (€25 mln), reflecting a net initial yield of 6.6%.
The property is located close to Sheffield city centre, in an established retail warehouse location and adjacent to Queens Road Retail Park.
It was built in 2002 on a 3.6-hectare site, comprising a 9,569 m2 retail warehouse with a 3,700 m2 outdoor garden centre, a builders yard and 460 space car park. The property is leased in its entirety to home improvement retailer B&Q for a further 12.4 years at an annual rent of £1.2 mln.
