Leicester property investor buys Warburtons warehouse for £2.15m

Custodian REIT, the Leicester property investment company, has bought a 20,678 sq ft distribution unit on Access 26 Business Park, Langley Mill, near junction 26 of the M1 for £2.15m.

The unit is let to Warburtons on a lease expiring on 2 December 2022. Current rent is £143,800 per annum reflecting a net initial yield of 6.29%.

Richard Shepherd-Cross, managing director of Custodian Capital Limited (the company’s discretionary investment manager), said: “We are delighted to have acquired this modern unit in a strong distribution location.

“There is significant demand in the Midlands for high quality units with good communication links and we expect this demand to lead to rental growth at the upcoming review in December 2017.”