Hambridge Road scheme changes hands for £6.35m
A client of CBRE Global Investors has acquired a prime freehold development in Newbury from Travis Perkins for £6.35m, representing a net initial yield of 4.86 per cent.
The newly constructed retail warehouse and trade counter development, located on Hambridge Road, Newbury RG14 5EA, comprises two units totalling 37,869 sq ft.
The estate is multi-let to three tenants producing £329,500 pa with the majority of the income secured to Wickes.
Avison Young advised the purchaser and HSM acted on behalf of Travis Perkins.