Sheds news
Property Week today reports a trio of industrial property transactions. It says Prologis European Properties has sold a 112,000 sq ft warehouse to J Sainsbury for £11m. The food retailer has occupied the Basingstoke property since 2004.
In addition, an unnamed private pension fund client has sold Omega Park, which comprises three buildings on the Southmead industrial estate in Didcot, to Ignis UK Property Fund for £9.4m, reflecting a net initial yield of 7.83%. The three industrial units total 127,497 sq ft and are fully let.
PW also says Segro has agreed three deals at Heathrow totalling 102,300 sq ft – one through its Airport Property Partnership joint venture with Aviva. PW says 56,000 sq ft has been let on a 15-year lease to Air Menzies International, 9,300 sq ft has been leased for 10 years to Screwfix Direct, and through APP, 37,000 sq ft has been let to Williams and Hill Freight Forwarding on a 15-year lease. It quotes Segro’s joint venture director Allan Holland as saying that the group is seeing increasing demand around the Heathrow market.
