Strutt & Parker have advised clients of CBRE Global Investors on the acquisition of Units 1 & 2 Queen Elizabeth Distribution Park, West Thurrock from Westbrook for £7.9m, reflecting a net initial yield of 7.70%.
Strutt & Parker have advised clients of CBRE Global Investors on the acquisition of Units 1 & 2 Queen Elizabeth Distribution Park, West Thurrock from Westbrook for £7.9m, reflecting a net initial yield of 7.70%.
The property totals 112,684 sq ft and is let to DHL and Restore plc at a total rent of £643,305 per annum with an average weighted unexpired term of six years.
James Fairweather, head of industrial and logistics at Strutt & Parker, who acted for CBRE Global Investors said: “CBRE Global Investors are keen to secure well-positioned South East distribution investments and this property, let to two strong covenants, ideally suited their requirement especially in an increasingly competitive market for this profile of investment.”
Strutt & Parker acted on behalf of CBRE Global Investors; Westbrook was represented by JLL.