Aviva Investors UK Real Estate Recovery Fund II
has acquired the long leasehold interest in Wincanton’s distribution warehouse facility at Portbury Bristol
The property totals 38,000 sq ft
on a site of 6.23 acres
and is located very close to Junction 19
of the M5 motorway
Wincanton hold the property on a lease with a further 11 years
unexpired, subject to a break option in November 2020
, at a rent of circa £380,000 per annum
The purchase reflects a net initial yield of 8.34 per cent
Aviva were represented by Colliers International and the vendor; Stobart Group Limited, were represented by GVA.
The property was managed for the vendor by Roebuck Asset Management as part of a wider contract.
of Colliers International’s Bristol office said: “This acquisition provides Aviva with a generous income yield with potential for improved returns as the regional economy grows.”
For further details contact Richard Coombs, Director of National Investment, Colliers International on Bristol 0117 917 2000.