March 11, 2009
The UK Logistics Fund, advised by M3 Agency, has sold its 349,500sq ft distribution warehouse at Swan Valley, Northampton to PMB Holdings, Peter Beckwith’s private property company, and the John Lyons Charity. The sale shows an initial yield of 8.2%.
The building which is strategically located fronting the M1 at J15A near Northampton is let to Morrison’s for a further 14.5 years.
Simon Milner from M3 Agency comments: “In this market to do a deals of this size and price are few and far between, we worked hard to secure a very good price for our client The UK Logistics Fund.”
Phillips Roth & Co acted for PMB and Cluttons advised John Lyons.