DTZ Investors completes on the acquisition of Motorway Industrial Estate, Stevenage
DTZ Investors has completed on the acquisition of the freehold interest in Motorway Industrial Estate, Stevenage for £7.1 million, reflecting a 5.4% net initial yield.
The property is located within the well-established industrial area of Gunnels Wood. The asset comprises six units arranged over two terraces, totalling 60,808 sq ft. The estate is let to five tenants with an average weighted unexpired lease term of 7.7 years to expiry and 5.5 years to break. The property offers immediate asset management opportunities, and falls in line with DTZ Investors’ target to increase exposure to the South East industrial market.
Gerald Eve acted on behalf of DTZ Investors and LSH represented the vendor.