Fairfield Trade Park, Kingston, Acquired by DTZ Investors for £12.205m
DTZ Investors, advised by BNP Paribas Real Estate, has acquired Fairfield Trade Park, Kingston from Aberdeen Asset Management for £12.205m, representing a net initial yield of 5.15%.
The 75,486 sq ft, Grade A South East trade park is multi-let to Royal Mail group, Volante Ltd, Howden Joinery Properties and Magnet. The building currently produces £665,490 per annum reflecting a low average rent of £8.82 per sq ft with a WAULT of 3.39 years to break and 5.02 years to expiry.
Savills represented Aberdeen Asset Management.