Henderson Global Investors has acquired a retail warehouse unit in Berry Lane, Halifax for GBP5.7m reflecting a net initial yield of 6.65 per cent.

The asset is let to Matalan until 2027 on a passing rent of GBP401,424 per annum, equating to a rate of GBP8.75 per square foot.

Adjacent to a retail park and large Sainsbury’s, the asset is situated very close to Halifax town centre.
 
Cameron Fraser, fund manager at Henderson Global Investors, says: “Supply is particularly tight in Halifax and we are delighted to have acquired this retail warehouse unit which is an excellent addition to our portfolio.

"This acquisition is part of our strategy of acquiring properties with solid fundamentals, which provides us with exposure to high quality tenants and strong prospects for future rental growth.”

The vendor was advised by Singer Vielle. Mason Philips and Montague Evans acted for Henderson.