Cording Real Estate Group, a real estate investment and asset management business focussed on the UK and Northern Europe, has acquired a portfolio of six industrial estates in the UK for 拢51 mln (鈧�70 mln), reflecting a net initial yield of 9.25%.
Cording Real Estate Group, a real estate investment and asset management business focussed on the UK and Northern Europe, has acquired a portfolio of six industrial estates in the UK for 拢51 mln (鈧�70 mln), reflecting a net initial yield of 9.25%.
The portfolio, which is spread across the North, Midlands and South East of England, was acquired from a joint venture between Brockton Capital and Dunedin Property.
It comprises around 184,600 m2 of multi-let industrial space with a vacancy rate of 9%. The assets produce an annual rental income of around 拢5 mln.
The package comprises the Kayley Industrial Estate in Ashton-under-Lyne, Greater Manchester; a site in Tyseley, Birmingham; the Lineside Industrial Estate in Littlehampton, West Sussex; Greens Industrial Park in Wakefield, Yorkshire; Hindley Green Business Park in Wigan, Greater Manchester; and Oxford Street Industrial Estate in Wolverhampton, West Midlands.
Tudor Toone advised Cording in this transaction and JLL advised the vendor.
