F&C Property Asset Management plc - Industrial Sale - Worcestshire

Date: 31 Jul 2008

F&C Property Asset Management plc, acting on behalf of our Multi-Manager Mandate, has purchased the freehold investment of a 150,000 sq ft (13,935 sq m) warehouse facility in Droitwich, Worcestershire for £4.85 million. The deal represents an initial yield of 10.5%

The distribution warehouse, which is set on a 10 acre (4 hectare) site situated at West Bank, Berry Hill Industrial estate Droitwich, is currently let to logistics firm Home Delivery Network Ltd. The lease is due to expire in (September 2010) providing three years of remaining rental income.

F&C Property is working with CDC Estates Limited on proposals to extensively redevelop the site for future industrial / distribution activity in order to generate further value and income.

Harris Lamb (Birmingham) and Aston Rose represented F&C Property and CDC Estates Limited.

Warehouse facility in Droitwich, Worcestershire