London, United Kingdom, November 01, 2010 --(PR.com
)-- Rockspring Hanover PUT, advised by Caisson Investment Management has purchased the freehold investment of Court Lane Industrial Estate in Iver, Buckinghamshire from Trehaven Group for around £12.6 million.
The 14-acre (5.65-hectare) estate, which fronts the M25 near to Heathrow Airport and junction 15 of the M4 motorway, comprises industrial and open storage accommodation totalling 510,000 sq ft (47,420 sq m) and produces an annual income of £975,000. Tenants include: Ontime, AFI Uplift, Q-Park and Iver Recycling.
Paul Crosbie of Rockspring says: “The site provides accommodation inside the M25 for specialist occupiers that need to be close to Heathrow and west London. The purchase fits well with the planned expansion of our portfolio through investing in property that provides long-term income streams and opportunities for active asset management.”
Philip Stott of Caisson Investment Management adds: “The estate’s accessibility and highly visible position, overlooking one of the country’s busiest stretches of motorway, gives it great potential for future rental growth.”
Rockspring and Cassion were represented by Vail Williams and Fresson & Tee and the Trehaven Group was advised by NB Real Estate.