DTZ INVESTORS BUYS HATCH INDUSTRIAL ESTATE, BASINGSTOKE FOR £13,395,000.
DTZ Investors has successfully acquired Hatch Industrial Estate in Basingstoke for £13,395,000, reflecting an initial yield of 5.87%.
The prime multi-let industrial estate was constructed in 2007 and totals approximately 96,989 sq ft. The property is currently multi-let to seven tenants with a WAULT of 5.1 years to earliest expiries. The property offers strong rental growth prospects and is passing off a low average rent of £8.54 psf.
Tom Royston, Associate Director at DTZ Investors, said: “DTZ Investors are delighted to acquire this property, which fits with the funds strategy of acquiring well-located assets with diverse income profiles and into locations that will support long term sustainable income offering growth potential.”
Knight Frank acted on behalf of DTZ Investors.