Protego Real Estate Investors, advised by Strutt & Parker, has sold the freehold interest in The Big Berry, West Stone, Berry Hill Industrial Estate, Droitwich, to F&C REIT for £8 million, reflecting a net initial yield of 10.7%.

The modern four bay warehouse is located on the Berry Hill Industrial Estate situated at the junction of the A442 and A38. The warehouse comprises 201,201 sq ft and is let to Vax Limited on a lease which expires in July 2014. The property generates a rental income of £904,837 per annum, equating to £4.50 per sq ft.

Darren Hutchinson, Director, UK Investment at Protego Real Estate Investors commented: “This sale forms part of our strategy to focus on dominant multi-let industrial estates with a diversified tenant base and medium term opportunities for income growth. Protego has an active requirement and is keen to acquire further multi-let estates”.

M3 advised F&C REIT.

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