Aberdeen Asset Management, represented by commercial property agent Prop-Search, has acquired an industrial logistics asset located on Express Park in Rushden.
Comprising a single facility of 96,969 sq ft, built in the late 80s, the investment is currently let to Orbital Marketing Services Group, which occupies the 6.56 acre site as a mail order and promotional fulfilment, direct mail production, and storage and distribution centre. The property is held on a lease term to expire in 2025 at the current passing rent of £360,000 per annum exclusive.
Richard Baker, a Director at Prop-Search’s Northampton office, said: “We are pleased to have secured this asset on behalf of Aberdeen Asset Management. The property is situated on the outskirts of Rushden, in an established industrial location and offers a good income at an attractive net initial yield of 6.96%.”
The vendor was represented by Levy LLP.