Acquisition of two single let distribution warehouse. Gerry Young.

Industrial & logistics, Agency, Investment, Lease advisory

M7/Blackstone

This project was worked on by the following people, working in partnership from across our business…

  • John Hulme Head of Industrial and Logistics Sector Partner, Commercial Agency and Advisory
  • Luca Nardini Associate, Commercial Agency and Advisory

Key information

Montagu Evans Advised M7/Blackstone on the acquisition of two single let distribution warehouses in Gatwick and Milton Keynes.

Kestrel IDM Ltd occupy a prime south east warehouse comprising 21,747 sq ft GIA located next to Gatwick Airport. The tenant is committed to the facility until 23rd June 2023, providing 2.7 years of income. The passing rent of £235,613 per annum reflects £10.83 psf.

 

 

Sansetsu (U.K.) Ltd’s warehouse in Milton Keynes is occupied as their UK headquarter distribution facility. The tenant operates from a 33,098 sq ft GIA unit on a 2.85 acre site (27% site cover), allowing for future development to maximise revenue potential. The tenant is committed to the warehouse until 2nd December 2021, providing 1.1 years of income. The passing rent of £230,000 per annum reflects £6.95 psf.

M7/Blackstone purchased the estate in November 2020 for £8,400,000 which reflects a blended net initial yield of 5.20% and capital value of £153 psf.

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