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Custodian REIT buys distribution unit

12 June 2017 07:36

Custodian REIT has acquired a 20,678 sq ft distribution unit on Access 26 Business Park, Langley Mill, located near junction 26 of the M1.

Nearby occupiers include DHL, 3663 Logistics and Travis Perkins.

Custodian REIT said the unit was let to Warburtons on a lease expiring on 2 December 2022 and the current passing rent was £143,800 per annum which reflected a net initial yield of 6.29%.

It said the agreed purchase price of £2.15m was funded from the company's existing cash resources which had resulted in net gearing increasing to 17.8% loan to value.

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Related Company: CREI

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