Mar 12 2014
LondonMetric exchanged contracts to acquire the Marks & Spencer Distribution Centre in Sheffield from clients of CBRE Global Investors for a purchase price of £32.2 million (net of acquisition costs), reflecting a net initial yield of 7.6%. The acquisition will be funded from the Group’s existing resources. The asset comprises two units totalling 625,900 sq ft (unit 1: 334,800 sq ft; unit 2: 291,100 sq ft) and is sited at the Sheffield International Rail Freight Terminal (SIRFT).
The full announcement can be found in the attached file.
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