BizSpace has exchanged contracts to acquire a portfolio of two mixed-use industrial assets for £9.5m, reflecting an NIY of 9.6%.
BizSpace, which is a UK subsidiary of Sirius Real Estate, picked up the two assets in Liverpool and Barnsley. They have a combined area of 71,957 sq ft of predominantly workshop accommodation.
Andrew Coombs, chief executive officer of Sirius Real Estate, said: “It is pleasing to see the execution of our asset recycling strategy, by being able to redeploy capital from assets that were sold at a premium to book value into immediately income enhancing acquisitions that can benefit substantially from future asset management initiatives.”
