Strutt & Parker has acquired two industrial units, totalling 105,045 sq ft, at Weston Avenue in West Thurrock, on behalf of Fidelity UK Real Estate.

The units were acquired for £6.5m, reflecting a net initial yield of 7.85%.

Unit A extends to 52,464 sq ft and is let to Ford Retail and Unit B comprises 52,581 sq ft and is occupied by Hermes Parcelforce. The units generate a total income of £539,652 per annum and provide an average weighted unexpired term of 9.7 years to lease expiries (4.6 years to lease breaks).

Alison Puhar of Fidelity said: “We are delighted to have acquired this well let investment which fits our UK Real Estate Fund strategy of buying good quality assets with strong income and growth potential. West Thurrock is a long established distribution location and we expect to see strong performance from this asset.”

Strutt & Parker acted on behalf of Fidelity; the vendor was represented by Lewis Ellis.