This week the Estates Gazette has reported a sale of John Lewis’s new distribution warehouse on Magna Park in Milton Keynes. The 675,000 sq ft prime development has been let to the national department store operator on a new 30 year lease at a rent of £5.75 per sq ft. Aviva Investors, who have traditionally been keen buyers of long secure income properties, have agreed a price of more than £70 million reflecting a net initial yield of 4.9%.

The sub 5% yield is reflective of the secure income to one of the UK’s best known and well-respected retailers. With Gilt Rates and UK Interest Rates at historically low levels, properties with secure incomes are popular with the institutional investors.

Back

Contact

Contact Mellersh & Harding

Call us on +44 (0)20 7522 8500

Email Us Directly

Send An Enquire

What our clients say

"What made dealing with Mellersh & Harding LLP a pleasure was the response time on queries from all parties and the way in which they...

Tom Catton, Book Tokens Ltd

What our clients say

"Proactive and responsive...you get the impression that they are enjoying what they do and that it feeds through and makes it a much more pleasant environment to work in..."

Grosvenor

What our clients say

"Paul Brewster’s background combined with his enthusiasm for personally getting involved with the tasks at hand made him the best route in resolving my company’s..."

Graham Begg, Film Tree

Send an Enquiry

D2 Interactive