A warehouse in Milton Keynes has been sold for £10.2m.
Canada Life, represented by Savills, sold the property to a joint venture between Exeter Property Group and GIC for a net initial yield of 5.8%.
James Williams, Investment Director at Savills, said: “This warehouse offers a significant opportunity to increase rental income through asset management, against the backdrop of a strong occupier market in Milton Keynes.”
“As such, it generated high levels of interest and we are pleased to have achieved a strong result for our client.”
The 111,445 sq ft warehouse is on a 6-acre site on Brinklow Industrial Estate and is currently let to party products manufacturer Amscan.
Image attributed to Savills
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