Wednesday - 17 September 2014

PRUPIM snaps up £47m megashed in Golden Triangle

Published: 09 January 2013  02:23 PM
Industry Channel: Property 

Property investment managers PRUPIM has paid £47 million for the freehold of a 1 million sq ft warehouse located in the prestigious Golden Triangle in the Midlands.

The warehouse is situated on a 42 acre site on the Brackmills Industrial Estate, Northampton, let to Howden Joinery Group until March 2019. PRUPIM will receive a rent of £6,905,113 a year  representing a yield of 13.89 per cent.

Saul Western, Bidwells, who advised on the deal, said: “This is just the opportunity that a large Life Fund like PRUPIM should be acquiring - it will provide a high income return for the next few years, but with a tremendous underlying site value being situated on a 42 acre prime development site on Brackmills."

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