UK real estate investment trust McKay Securities has bought a 2.7 acre freehold estate consisting of two, self-contained units totalling 54,157 sq ft for £10 million in Bracknell, Berkshire.
One unit is being let to Acal BFI UK and the other to Accident Exchange, and McKay said the combined contracted rent of £594,722 per annum provided scope for future growth based on recent lettings in the town and the leases offer potential vacant possession for redevelopment in 2024.
Simon Perkins, chief executive of McKay, said: “Willoughby Road represents an excellent addition to our South East industrial portfolio, thanks to its prime location in central Bracknell, an area established as a top choice for leading occupiers”
“With availability in the local area already at an all-time low, and demand continuing to rise in line with accelerating e-commerce penetration, this high-quality earnings enhancing asset provides rental growth prospects and medium/longer term redevelopment potential.”
