Custodian REIT, the property investment company, has acquired a 47,882 sq ft industrial facility located two miles from junction 29 of the M1 near Chesterfield.
The industrial facility is fully let to Container Components Limited with 20 years remaining on the lease.
The £3.5 million acquisition was funded from the company’s existing debt facilities.
Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the company’s discretionary investment manager), said: “This well located, modern industrial asset has been acquired at an entry yield of 6.10% which is significantly above the market average for industrial assets.
“The property also benefits from five-yearly index linked rental increases which provide long-term inflation-adjusted income. The acquisition demonstrates our continued ability to source high quality assets on behalf of our shareholders which offer enhanced but secure income returns by focussing on smaller sized properties where there is reduced competition.”
