HIGHCROSS has sold an industrial warehouse in Knowsley called The Rack for £3.05m.
Advised by Jones Lang LaSalle, the company has sold the unit to PCT Healthcare, reflecting a net initial yield of 9.22%.
Situated on a five- acre site approximately six miles from Liverpool, the 79,263 sq ft industrial warehouse unit is let to Movianto UK, a pan-European healthcare logistics supplier on a 10-year lease.
It provides a current income of £297,240 per annum, reflecting £3.75 per sq ft.
Matt Stretton, associate director in Jones Lang LaSalle’s national investment team, said: “After successfully letting the unit to Movianto UK, Highcross seized the interest received from private investors, who were attracted by the 10-year unbroken lease term.”
