McKay Securities snaps up Berks distribution hub for £10.7M

This is a republication of an article which appeared on the CoStar website at: http://www.costar.co.uk/en/assets/news/2015/April/McKay-Securities-snaps-up-Berkshire-distribution-unit-for-107-million/
Reading-based McKay Securities has completed the acquisition of a distribution facility near the Arlington Business Park in Theale, Berkshire for close to £11m.
McKay has bought the 96,850 sq ft building from Patron and APAM.
It is located at Brunel Road and is let to international logistics operator Kuehne & Nagel Ltd on the remainder of a lease, expiring 2020, at a current rental income of £750,000 pa.
This represents a net initial yield of 6.7% based on the £10.7m purchase price.
Haslams Chartered Surveyors and Whitmarsh Holt Young represented Mckay Securities throughout, whilst Tudor Toone LLP acted for Patron and APAM.

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