Private investor buys Tesco shed

The 272,055 sq ft warehouse, let to Tesco Stores, is on Wingates Industrial Estate in Bolton and sold at a net initial yield of 9.5%.

Tesco pays £4.50/sq ft and its lease is until 2016.

James Williams, investment director at DTZ, which advised Invista, said: ‘This disposal suggests that demand for fundamentally sound property remains robust, particularly from private investors seeking attractive cash on cash returns relative to alternative asset classes.’

Anthony Lipton & Co advised the buyer.