Nelson Bakewell - Industrial Sale - London W3, Old Oak Common Lane, Unit 1 Oakwood

Date: 26 Jul 2002

Clients of Henderson Global Investors have purchased the virtual freehold interest of Unit 1 Oakwood, Old Oak Common Lane, Acton from Lionbrook Property Partnership. The fund was advised by Nelson Bakewell whilst Lionbrook was advised by Baring Houston & Saunders.

The property comprises a detached 1980s warehouse unit of approximately 1,503.78 sq m (16,186 sq ft) with ancillary offices on ground and first floors. The property is let to The Expanded Metal Company Limited for a term of 25 years from 29 September 1983 with 5 yearly upwards only rent reviews. The current rent is £108,000 per annum which reflects £71.82 per sq m (£6.67 per sq ft).

The property was purchased for £1,275,000, which reflects a net initial yield of 8%.

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