Brixton has bought five warehouses at Heathrow in two deals for £71.6m, including two thought to be from New Star’s redemption-hit property fund. Financial Times, The Times, Daily Telegraph
It paid £63.75m to an unnamed seller, thought to be New Star, for two units occupied by Royal Mail and EGL Eagle Global Logistics with about 354,000 sq ft at Heathrow Gateway in Feltham. Total rent is £3.72m a year at a yield of more than 5.5%.
The second purchase from Clerical Medical Managed Funds is three warehouses of 43,000 sq ft at the Riverside Cargo Centre, Poyle for £7.85m with annual rent of £415,000 and net initial yield of 5%.