HPPUT, represented by Helix Property Advisors, has purchased the freehold investment of Matthew Clark Distribution Warehouse, Apex South, Bedford from A2 Contractors for £5.75m.
The 37,243 sq ft drinks distribution facility, is let to Matthew Clark, the national drinks wholesaler, and is held on a 20-year lease with a break in year 15. The investment produces an annual income of £300,000 and the transaction reflects a yield of 4.895%.
The property occupies a site totalling approximately 3.12 acres (1.26 ha) and is situated adjacent to the A421 dual carriageway, which provides direct access to the M1 Motorway (Junction 13) and A1.
Yvonne Smith of Helix Property Advisors said: “This is a brand new, high specification logistics facility that was purpose built for Matthew Clark and its national distribution business. As an investment asset, it sits perfectly within the portfolio and the acquisition is part of the strategy to purchase modern and well let properties in accessible locations across the UK.”
ADS Real Estate Advisors advised on the acquisition. Knight Frank LLP represented A2 Contractors.