The AEW UK Real Return Fund has announced the purchase of two industrial warehouse units on Gatehouse Way, Aylesbury for £3.1m. The purchase reflects a net initial yield of 6.20% and the WAULT to expiry is 10.5 years.
The two units total 38,736 sq ft and are situated on the Gatehouse Industrial Estate, with direct access to the A41. Nearby occupiers in the popular mixed-use estate include Honda, Toyota and Travis Perkins. The two steel-portal framed units each have their own secure yard with steel palisade fences. Unit 7A, let to Perrys Motor Sales Limited, includes an integrated office spanning both ground and first floor levels and benefits from recently refurbished central heating and air conditioning systems. Unit 7B consists of a single storey office block with separate amenities and a mezzanine above and is let to Eros Hire Tools Limited.
Ian Mason, Portfolio Manager at UK Real Return Fund, commented: “We are very pleased to have completed this latest acquisition – the units provide an attractive yield and are good additions to our portfolio. Locations like Aylesbury are seeing increasing demand from warehouse and industrial occupiers looking to relocate outside of London in order to secure modern, cheaper and more efficient properties.”
