Guernsey-based UK Commercial Property Trust Limited has announced the acquisition of an industrial property at Newton’s Court in the Crossways business park in the UK, for a yield of 6.4%.
Guernsey-based UK Commercial Property Trust Limited has announced the acquisition of an industrial property at Newton’s Court in the Crossways business park in the UK, for a yield of 6.4%.
Located in Dartford, Kent, the multi-let industrial estate was bought for £17.9 mln (€22 mln) excluding costs) from existing cash resources.
The property is a high quality industrial estate of 12 units, providing a total gross internal area of 163,720 sq ft (15,245 m2). The space is let to 10 tenants, including Boots UK , Clear Channel UK, Next Group and FedEx UK.
There are currently two vacant units on the park totalling 13,278 sq ft, which are subject to an 18 month rent and service charge guarantee from the vendor.
The company said that the acquisition is in line with its strategy of increasing exposure to the multi-let industrial sector in the favoured south east region. 'The deal will provide opportunities for income and capital growth from successful asset management,' it added.
