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- Highcroft Investments : HCFT – acquisition
Highcroft Investments has bought a freehold warehouse investment in Ash Vale, Aldershot.
The 24,853 sq ft warehouse was built 2001. It sits on a 1.5 acre site (covering about 35% of it). The property is let in its entirety to Buildspan Limited, a wholly-owned subsidiary of Sheffield Insulation Group (SIG). The lease runs until 2027. The current rent is £225,000 a year which means that the purchase price of £3.125m works out at a net yield of 6.8%.
Highcroft is paying for this from its cash resources.