Property consultant NAI Fuller Peiser has undertaken the sale and leaseback of a property owned and occupied by Elementis subsidiary Linatex. The industrial property, at Blackbushe Business Park in Yateley, Hampshire, totals some 5,175sq m and is Linatex’s main operational base in the UK.
Linatex specialises in the production of premium natural rubber which extends the life of equipment in the materials and handling industries.
Insight Investment Managers, for Clerical Medical, has bought the property for £5.6M, with Linatex entering into a new ten-year lease with a minimum fixed uplift at first review. The commencing rent was £431,171 (£7.75 per sq ft) with the agreed price reflecting a net initial yield of 7.25 per cent and a minimum reversionary yield of 8.2%.