Aviva Insurance buys up major industrial sites

TWO sales have been completed at Markham Vale to Aviva Insurance.

Henry Boot Developments sold the distribution and industrial sites for a price reflecting a net initial yield of 5.3%.

The sites include a 100,000 sq ft manufacturing facility let to Smurfit Kappa. It is currently occupied by inspirepac, a national corrugated packaging company acquired from the Logson Group in 2014.

The second site is the 52,000 sq ft distribution warehouse at Markham Vale West which is let to Gould Alloys, a specialist metals stockholders.

Ben Ward, director at Henry Boot Developments, said “The demand for these fully let investments demonstrates the confidence in Markham Vale as a location of choice for both occupiers and investors.

We are extremely pleased with the recent deals announced this year, and with our next phase of development currently underway, we are offering a wealth of opportunities for investors and occupiers at Markham Vale.”

“The next phase of development, Markham Vale North, is currently being prepared for development and there is already a strong interest from a number of parties for large scale distribution buildings.”

Burbage Realty and JLL represented Henry Boot Developments in the latest Aviva investment deal.