Standard Life Investments has concluded the sale of six properties in the UK to Sackville Properties for £41.5 mln (EUR 61 mln), reflecting a net initial yield of 6.6%. The portfolio comprises five office buildings and one industrial property in Harlow, Cardiff, Port Talbot, Welwyn Garden City, Swindon and St. Albans. The portfolio generates a total annual rent of about £2.8 mln.
Standard Life Investments has concluded the sale of six properties in the UK to Sackville Properties for £41.5 mln (EUR 61 mln), reflecting a net initial yield of 6.6%. The portfolio comprises five office buildings and one industrial property in Harlow, Cardiff, Port Talbot, Welwyn Garden City, Swindon and St. Albans. The portfolio generates a total annual rent of about £2.8 mln.
Mike Bracken, Director of Sackville Properties, commented: 'This acquisition represents our first major investment purchase since we sold our entire investment portfolio at the end of last year to Carisbrooke for around £170 mln.' Tudor Toone acted for Standard Life Investments Property Holdings and Knight Frank represented Sackville Properties.
