Warner Estate Holdings has today bought the 195,758 sq ft (18,186 sq m) Unipart unit on Magna Park in Lutterworth, Leicestershire from clients of CB Richard Ellis Investors.
Warner has paid £18.25m for the unit that is let to Unipart Logistics for a further seven years. It has bought the unit through its Radial Distribution Fund, a joint venture with Bank of Scotland. The price reflects a net initial yield of 5.92%.
Magna Park, the 500 acres (202 ha) distribution park, provides close to 7.7m sq ft (715,347 sq m) of B8 distribution floor space.