L&G acquires Cheltenham industrial estate for £20.5m
Legal & General (L&G) has completed the acquisition of Kingsditch Trade Park in Cheltenham for £20.5m from M&G Real Estate in a deal reflecting a net initial yield of 5.3%.
The park is thought to have attracted competitive bids from a number of funds. Located in the Kingsditch industrial area, the multi-let estate comprises 28 trade/light industrial units and totals 137,942 sq ft on a 7.9 acre site.
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