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Stenprop acquires industrial properties in Edinburgh, Cardiff, Wigan
StockMarketWire.com
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Industrial property investor Stenprop said it had acquired three multi-let estates, in Edinburgh, Cardiff and Wigan, for a combined £11.8 million.
Stenprop said it remained on target to be fully focused on the multi-let industrial sector by the end of the next financial year.
The 81,495 square foot estate in Wentloog, Cardiff had been acquired for £6.3 million, reflecting a net initial yield of 6.3%, in an off-market transaction. Stenprop also acquired R6 Industrial Estate in Newbridge for £3.9 million, reflecting a yield of 6.4%, and Otterwood Square in Wigan for £1.67 million, reflecting a yield of 6.6%.
Story provided by StockMarketWire.com
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