Investment Sale for Prime Air Freight Distribution Unit in Glasgow
16 August 2010
On behalf of a private investor client, Ryden has purchased the long leasehold interest in a prime air freight distribution unit at 2 Campsie Drive, Air Cargo Terminal, Glasgow International Airport for £1.1025m. The sale price reflects a net initial yield of 7.92%.
The property is a modern distribution unit extending to 16,238 sq ft. It is let to DHL Global Forwarding (UK) Ltd on FRI terms, expiring March 2015, with a tenant’s option to extend the lease for a period of five years from the expiry date. The net passing rent is £92,385 per annum.
Jones Lang Lasalle and Acuitus sold the property on behalf of The Airport Industrial Property Unit Trust, a client of Scottish Widows Investment Partnership.
