M&G Real Estate has acquired the long leasehold interests in two more warehouse units at Magna Park in the English town of Lutterworth.
M&G Real Estate has acquired the long leasehold interests in two more warehouse units at Magna Park in the English town of Lutterworth.
The investment volume for Units 1200 and 1300 at the park came to £27 mln (€32 mln), reflecting a net initial yield of 8.48%.
The properties provides some 43,200 m2 of warehouse accommodation, in addition to 2.4 hectares of expansion land.
The transaction is structured as a sale-and-leaseback and let to Renault UK and Nissan Motor Parts Center at an initial rent of £2.4 mln.
M&G Real Estate now owns a total of five properties in Magna Park, totalling 140,000 m2, on behalf of internal clients.
Lewis Ellis and North Rae Sanders advised M&G Real Estate; the vendor was represented by CBRE.
