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Henderson Property acquires mixed use asset in Peterborough

Henderson Global Investors, on behalf of its c. £12.3 billion Property Business has acquired Morley Court, in Peterborough. The c. 135,000 sq ft asset was acquired from Highcross for c. £4.5 million which represents an equivalent yield of 11.5%.

Henderson Global Investors, on behalf of its c. £12.3 billion Property Business has acquired Morley Court, in Peterborough. The c. 135,000 sq ft asset was acquired from Highcross for c. £4.5 million which represents an equivalent yield of 11.5%.

The property is a substantially refurbished, mixed use scheme which has Coca Cola Enterprises Ltd as its principal tenant (42% of income). Other tenants include Transworld E_Logistics Ltd, Chiltern Cold Storage and Paintshield Ltd. It is prominently positioned within an established industrial location in out of town Peterborough.

Cameron Fraser, Director at Henderson Property, commented: “This presented an excellent opportunity to acquire a well situated asset, with a strong collection of tenants delivering a secure income stream at a very sensible price. We believe the asset is well placed to deliver above index returns over the short to medium term with additional alpha available through a number of asset management opportunities with the existing tenants.”

GVA advised Henderson on the acquisition. The seller was represented by Strutt and Parker.

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