The Charities Property Fund, advised by Savills Fund Management, has acquired the freehold interest in part of Orion Business Park, Great Blakenham, Ipswich directly from the developer Braceforce Warehousing for £4,550,000, reflecting a net initial yield of 8.5%.
The Charities Property Fund, advised by Savills Fund Management, has acquired the freehold interest in part of Orion Business Park, Great Blakenham, Ipswich directly from the developer Braceforce Warehousing for £4,550,000, reflecting a net initial yield of 8.5%.
The 9,665 sq m (104,040 sq ft) industrial property forms part of the business park and is let to Medite Shipping Company (UK) Ltd, the international freight distribution and storage company, until Dec 2017 at a rent of £408,877 pa (equating to £42.30 per sq m/£3.93 per sq ft). There is a tenant's option to break in December 2012.