Leopard Capital, the newly established property investment fund, has completed the purchase of the Booker Cash & Carry in Salfords, Surrey from a discretionary pension fund client of OLIM Property Limited for £5,050,000 (reflecting a net initial yield of 5.68%).
The 41,691 sq ft property sits on a prominent site fronting the A23 and is let for a further 2.5 years to Booker Limited at a rent of £306,000 per annum, reflecting £7.34 per sq ft. The property is reversionary and offers longer-term redevelopment prospects.
Leopard Capital, set up by Alex Fordyce in 2017, focuses on industrial and distribution assets across the South and previously bought a retail and office unit in Basingstoke and industrial units in Welwyn Garden City and Trowbridge. Assets under management have increased by over 80% in the last six months.
OLIM Property Limited has FUM (funds under management) of over £1 billion for pension funds, charities and investment trusts.
Knight Frank acted for Leopard Capital and JLL acted for OLIM Property.
