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LondonMetric snaps up £22m Swindon distribution centre

LondonMetric Property has exchanged contracts to acquire the Oak Furniture Land Distribution Centre in South Marston Park, Swindon from IM Properties for £22m, reflecting a net initial yield of 6.5%.
By James Wallace
March 24, 2014 | 2:02 P.M.

The asset comprises a 302,000 sq ft warehouse developed in 2006 with an unimplemented planning consent for a further 150,000 sq ft of distribution space. The unexpired lease term is 13.6 years, which includes 8.6 years to first break.

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