LaSalle rounds off £190m urban logistics sales at steamy yields

  • What LaSalle has sold three urban logistics assets for £190m
  • Why Investors are paying record prices for assets
  • What next Dramatic rental growth is anticipated

LaSalle Investment Management has secured almost £190m through a trio of urban logistics sales at rock bottom yields, React News can reveal.

The assets, which were put up for sale last October through TT&G Partners, had an initial guide price of only £125m and have sold at an average yield of just 2.2%.

Royal Mail’s 81,000 sq ft hub on the Kimpton Industrial Estate in Sutton, South London, has been bought by CBRE Investment Management for £38.75m, a price that reflects a yield of 2.38%. The property is let to the group until September 2031 and had been marketed off a £26m price tag and 3.5% yield.

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Access 23 was bought by Segro last month

In Bristol, City Business Park has been sold to Orchard Street Investment Management for £30.1m, a price reflecting a 2.85% yield. The 19 unit scheme, arranged across four detached units and three terraces totalling 117,650 sq ft, had been marketed for £21.5m, a 4% yield.

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