Kames Capital banks on Bristol
Sanderling Estates has sold St James Court ?in Bristol to Kames Capital for £4.6m – an 11.9% yield. As much as 72% of the 36,500 sq ft multilet office block’s income is secured to RBS until July 2016. Hartnell Taylor Cook and MacLaren & Partners acted for Sanderling; GVA advised Kames.
Salmon leaps on sports centre
Salmon Harvester Opportunity Fund has purchased a DW Sports Fitness Club in Nottingham from a private client of Morgan Williams for £6.6m – an 8% yield. The 45,700 sq ft building is let to the sports club for a further 20 years at a rent of £560,000 pa. MBH advised Salmon Harvester Opportunity Fund.
BlackRock directed to Staines
BlackRock UK Property Fund has purchased Compass Point in Staines, Middlesex, from a private German client of CBRE for close to £23m – an 8.3% yield. The 68,500 sq ft office block is let entirely to Wood Group Kenny for a further 6.5 years at a passing rent of £29.50 per sq ft. Colliers International advised BlackRock UK Property Fund.
Prologis drives into Tamworth
Prologis has sold 600,000 sq ft shed Prologis Tamworth 594 to Blackstone’s Logicor for £35m – a 10% yield. Prologis bought the Staffordshire shed in 2013 from LondonMetric and recently let it to delivery firm Hermes Parcelnet and Euro Car Parts. Jones Lang LaSalle acted for Prologis; Dowley Turner Real Estate advised Logicor/Blackstone.
Pramerica swims to the Coast
Pramerica Real Estate Investors has bought the £25.4m Coast Portfolio from Hansteen UK Industrial Property Trust for an 8.2% yield. The portfolio totals 373,800 sq ft across 11 multilet industrial estates in the ?South West. AHBN advised Pramerica; Knight Frank acted for Hansteen.
annabel.dixon@estatesgazette.com
