Industrial Portfolio

GE Manufacturing Facility

Cramlington, Northumberland

 

Description
Headquarters office and manufacturing facility

Purchase Price
£11.08 million

Net Initial Yield
5.75%

Size
74,110 sq ft

Acquisition Structure
Pre-let forward funding

Date Acquired
March 2017

Rent Review
Retail Price Inflation (RPI)

Tenant/Guarantor
GE UK Group

Lease Term
20 years, without break, from completion of construction works

SIG Manufacturing Facility

Carlisle, Cumbria

 

Description

Manufacturing facility

Purchase Price

£9.3 million

Net Initial Yield

7.0%

Size

248,333 sq ft

Acquisition Structure

Built asset

Date Acquired

June 2017

Rent Review

Retail Price Inflation (RPI)

Tenant/Guarantor

SIG (Trading) Limited

Lease Term

25 years unexpired, with no break

Disposal

The Company sold the Property to a UK pension fund in August 2018. The sale generated a 39% geared IRR and reflected a 31% uplift on acquisition price.

Stobart biomass storage and processing plant

Rotherham, Yorkshire

 

Description

Biomass storage and processing plant

Purchase Price

£3.4 million

Net Initial Yield

6.20%

Size

Six acres

Acquisition Structure

Built asset

Date Acquired

February 2018

Rent Review

Retail Prices Inflation (RPI)

Tenant/Guarantor

Stobart Biomass Products Limited/Stobart Group Limited

Lease Term

20 years unexpired, with no break

Stobart industrial facility
and HQ office

Widnes, Cheshire

 

Description

Substantial industrial facility to store and process biomass timber and headquarters office

Purchase Price

£25.5 million

Net Initial Yield

5.50%

Size

40 acres

Acquisition Structure

Built with construction elements (fully let)

Date Acquired

June 2018

Rent Review

Retail Prices Inflation (RPI)

Tenant

Stobart Group Limited

Lease Term

22.5 years unexpired, with no break

Brenntag Industrial Facility

Sunderland

 

Description

Storage and distribution facility

Purchase Price

£4.9 million

Net Initial Yield

5.4%

Size

18,500 sq ft

Acquisition Structure

Built asset

Date Acquired

August 2018

Rent Review

Retail Price Inflation (RPI)

Tenant

Brenntag UK Limited

Lease Term

25 years unexpired, with no break

Johnson Matthey R&D Facility

Teesside

 

Description

R&D and office facility

Purchase Price

£6.65 million

Net Initial Yield

6.2%

Size

32,225 sq ft

Acquisition Structure

Built asset

Date Acquired

August 2018

Rent Review

Fixed uplifts of 2.5% pa

Tenant/Guarantor

Tracerco Limited/Johnson Matthey plc

Lease Term

22 years unexpired, with no break