News - Midlands
Five alive at Evenacre
Evenacre, advised by Jones Lang LaSalle, has bought the freehold interest of Units A-E, Cosgrove Close in Worcester from CB Richard Ellis Investors for £1.8m. The deal reflects a net initial yield of 12.8 per cent. The property comprises five industrial units, totalling 66,394 sq ft, which are let to Luxfer Gas Cylinders on five individual leases, expiring in 2017. The current rent is £247,442 per annum reflecting £3.73 per sq ft.