In QuotedData’s other news 20 November 2019
- Hansteen has bought seven multi-let industrial estates on the Newton Aycliffe industrial park in County Durham for £12m. The portfolio comprises 53 units totalling 341,620 sq ft, with individual units ranging in size from 820 sq ft to 32,648 sq ft. The contracted rental income is GBP1,094,000 a year (GBP3.55 psf) with a total current ERV of GBP1,272,000 a year(GBP3.72 psf). The units are let to 40 tenants, which are a mix of local, regional and national companies, on 45 leases. 32,942 sq ft (9.42%) of the space is currently vacant.
- LXI REIT is using debt to fund the construction a facility for maintaining and repairing business jets at Biggin Hill Airport. The new building will have 232,000 sq ft of hangar, workshop and office space plus an additional 650,000 sq ft of apron. It has been pre-let on a 35-year lease with annual rental uplifts fixed at a growth rate of 2.5% per annum compounded.
We also have news of a Botswanan investment by African property fund, Grit Real Estate and a problem at Hadrian’s Wall Secured Loan Investments