Brixton has bought £71.6m of industrial property in its core Heathrow market.
The deals represent the largest investment transaction in the Heathrow area in 2007.
The UK REIT has bought Heathrow Gateway in Feltham for £63.75m from an anonymous owner.
The scheme totals 354,000 sq ft over two units, and is currently occupied by the Royal Mail at a rent of £10.23/sq ft on a lease until 2025, and Eagle Global Logistics at a rent of £10.96/sq ft until 2022.
The rent is £3.2m a year, and the price reflects a net initial yield of over 5.5%. It was originally brought to the market at £67m.
Two deals
The second purchase is the £7.85m Riverside Cargo Centre in Poyle from Clerical Medical Managed Funds, a three unit scheme totalling just over 43,000 sq ft and let to Swiss Post, City Air Express and World Courier at around £9.60/sq ft until at least 2013.
The deal represents a net initial yield of 5%.
CBRE acted for Brixton and Lewis Ellis represented Clerical Medical.
At Heathrow Gateway, King Sturge acted for Brixton and Knight Frank acted for the vendor.
