Roebuck Asset Management has sold a 92,000 sq ft distribution warehouse in Worcester to F&C Property Growth and Income Fund for £6.4 million, which reflects a net initial yield of 6.91%.
The warehouse, located at Norton, is let to Bibby Logistics on a 10 year lease with 5.75 years unexpired.
CBRE advised Roebuck Asset Management and Joiner Cummings acted on behalf of the purchaser.
A privately owned UK property asset management company, Roebuck currently manages a portfolio covering 2.5m sq ft of floor space across all main sectors working with investors, property companies and institutions.
