Israeli investor, ZC Ronogil Investments, have completed the acquisition of the Apple Lane data centre in Exeter from receivers.
This is the fifth acquisition by ZC Ronogil Investments in the last 18 months bringing their assets acquired since entering the UK market to around £40m.
The price paid was circa £7.6m, excluding costs, which reflects a Net Initial Yield of circa 9.23% with a further 8+ years remaining on the lease. WhiteCity Investment Brokerage negotiated the acquisition on behalf of the purchaser, JLL acted on behalf of the vendor.
Alex Green of WCIB commented “With this acquisition ZC Ronogil Investments is now exposed to the world of Data Centres in the UK market, a specialist sector with a fantastic growth story and solid income for another 8 years to a very strong covenant. This is a fantastic addition to the ZC Ronogil Investments portfolio and we continue to seek suitable opportunities on their behalf.”
ZC Ronogil Investments is the investment vehicle of the Hermoni family who continue to acquire commercial investment properties in the UK.
The purchaser was represented on legal matters by Asserson Law Offices a full-service international law firm, with offices in Tel Aviv and London, which works closely with major international clients in all areas of real estate, disputes, corporate and planning law.
WhiteCity Investment Brokerage is a niche brokerage company advising Israeli clients on UK real estate investments and developments, as well as structuring and asset management.