Henderson Global Investors, on behalf of the GBP823m Henderson UK Property Unit Trust, has acquired a retail unit in Maidenhead.
The unit is let to Boots on a lease with 11 years unexpired.
It was purchased from Carvella for GBP6.62m, which reflects a net initial yield of six per cent.
Ainslie McLennan, co-fund manager for the Henderson UK Property Unit Trust, says: “Having focused on positioning ourselves at the more prime end of the UK property investment market, this is another solid purchase for the fund. We were keen to increase our high street retail sector holding, and are pleased to benefit from the 11 years of income to a blue chip business such as Boots.
“With our void rate now down to 2.5 per cent and the excellent property and tenant diversification within the portfolio we are on track to maintain our high income distribution yield for investors and continue to outperform.”
The average unexpired lease on the fund is 10.5 years and the retail holding has now increased to 35.7 per cent with the remainder split between offices at 42.5 per cent and industrial at 21.8 per cent
Cushman and Wakefield acted for Henderson UK Property Unit Trust. DTZ acted for Carvella.
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