James Barr Acquires Prime Industrial Investment for F&C Reit
Posted on 20/05/13
Acting on behalf of global real estate fund manager F&C REIT Asset Management, James Barr’s investment team has concluded the successful acquisition of 51 McNeil Drive, Eurocentral. The property comprises a purpose built 51,769 sq ft distribution warehouse let to Fedex UK Ltd until 2022 at a rent of £255,000 p.a. F&C REIT paid £2.92m for the property which represents a net initial yield of 8.25%. James Barr acted on behalf of F&C REIT and CBRE acted on behalf of the vendor, DSV Road Ltd.
Will Sandwell of James Barr commented:
“We are delighted to have acquired this investment for F&C REIT. This is a high quality property let to one of the best logistics companies in the world. We feel this is a good example of being selective in a challenging market, we were able to utilise our extensive knowledge of the Scottish industrial and investment market to identify this opportunity as one which should be pursued on behalf of the client.”
For more information, please contact Will Sandwell