Freehold of Solar Park sold for £22.7m

BNP Paribas Real Estate (BNPPRE), the leading property adviser, and Collingwood Rigby, on behalf of Friends Life Company Ltd, a fund managed by AXA Real Estate Investment Managers, have sold the freehold interest of Solar Park, Solihull to Ignis UK Property Fund for £22,700,000, reflecting a net initial yield of 7.59%.

Solar Park comprises a prime multi let industrial estate totalling c. 285,000 sq ft, fully let to seven tenants, currently producing £1,823,140 per annum.

GVA acted for Ignis.