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Orchard Street sells unit 5 Logix Park, Hinckley

Orchard Street Investment Management LLP (Orchard Street) has sold unit 5, Logix Park in Hinckley, Leicestershire to Cabot Properties for £23.2 million, reflecting a net initial yield of 8.1%. The transaction was completed on behalf of St James’s Place property funds.The 362,000 sq ft distribution warehouse is let to logistics service provider Syncreon Technology (UK) Ltd, on a 6.5 year lease for an annual rent of around £2 million. Situated in the ‘Golden Triangle’ of the UK distribution industry, immediately adjacent to the A5 and close to Junction 1 of the M69 and Junction 10 of the M42, Logix Park provides excellent transport links to the rest of the UK.

Commenting on the sale Richard Walters of Orchard Street, said: “We ar...[…]