PROPERTY adviser DTZ Investment Management has acquired the 4x4 Portfolio from Liverpool Victoria Asset Management for £28.55m.
DTZ acted for DTZ IM. The portfolio comprises two estates in Greater London along with estates in Warrington and Coventry.
They are Gemini Business Park, in Warrington; Swallow Gate Business Park, in Coventry; Five Arches Business Estate; in Sidcup; and units 19-23 at Mitcham Industrial Estate, Mitcham.
The estates are located in established industrial areas with an average unexpired term to break or expiry of 6.6 years.
There are 43 units in total ranging from 3,000 sq ft up to 32,000 sq ft and, by floor area, the portfolio is 82% let.
The purchase price reflects a net initial yield of 7.58%.
