Crewe warehouse sold for £6.4m
LEGAL & General Property has bought a single-let warehouse in Crewe from RREEF Real Estate for £6.4m.
The acquisition of the 115,476 sq ft unit, on behalf of its Property Unit Trust, reflects a net initial yield of 8.35%.
The unit, located in the Weston Road industrial area of Crewe, is let entirely to 20:20 Mobile (UK), at a rent of £567,016 a year. The lease expires at the end of 2018.
Other occupiers in the area include Rymans, Bentley Motors, B&Q and Tesco Direct.
RREEF Real Estate was represented by Drivers Jonas, while Legal & General Property was represented by King Sturge.
