August 31, 2012
OLIM Property has bought two freehold properties in Birmingham and Newbury for £6.4 million at a net initial yield of 8.8% for their pension fund clients from Etonfields Limited Partnership. Mason Philips and Jones Lang LaSalle acted for the vendor and Kitchen La Frenais Morgan for the purchaser.
The Greens Health & Fitness Club at Birmingham Great Park, Rubery, Birmingham totals 37,875 sq ft and is let to Greens Health & Fitness Limited at a rent of £365,867 p.a. The Greenham Trading warehouse and trade counter unit at Bone Lane, Newbury totals 35,138 sq ft and is let to Bunzl UK Ltd, guaranteed by Bunzl PLC at a rent of £230,000 p.a. Both leases have 12 years unexpired.
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