DTZ Investors acquires multi-let industrial estate in High Wycombe
DTZ Investors has completed on the acquisition of Century Point, Cressex Business Park, High Wycombe. The property is a multi-let industrial estate, providing 95,000 sq ft arranged across seven industrial units. The property is located in Cressex Business Park, the principal industrial location in High Wycombe and benefits from good access to the M40. The asset is fully let to seven tenants, with an unexpired lease term of 3.5 years.
The property was acquired for £19.625m, reflecting an initial yield of 4.2% and capital value per sq ft of £200.
The acquisition is in line with the strategy of increasing exposure to the Industrial Sector, in markets which benefit from strong occupier demand. The lease expiry profile provides opportunities to capture this demand and realise reversionary potential.
Knight Frank acted for DTZ Investors.