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Stenprop acquires three UK industrial estates for £18.4m
StockMarketWire.com
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Industrial property investor Stenprop said it had acquired three multi-let estates for a combined £18.4 million.
The purchase prices reflected a combined net initial yield of 6.7% and kept the company on target to be a fully focused multi-let industrial property investor by the end of next financial year.
Stenprop has acquired Riverside Industrial Estate for £10.9 million from Aegon.
Comprising 14 units across four terraces and two detached units, the asset was located three miles from Newcastle city centre.
Lake Enterprise Centre in Bromborough had been acquired in an off-market transaction for £4.15 million, while Enterprise 5 in Bradford was bought for £3.37 million.
Story provided by StockMarketWire.com
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