ISIS Property Trust commits to Bury

ISIS Property Trust commits to Bury – Jan ’11

ISIS Property Trust has bought a retail warehouse at Halls Mill Retail Park, Foundry Street, Bury for £7.05m, reflecting a net initial yield of 6.95%.

ISIS Property Trust has bought a retail warehouse at Halls Mill Retail Park, Foundry Street, Bury for £7.05m, reflecting a net initial yield of 6.95%. The acquisition has been made by way of a forward commitment with completion expected to take place in May 2011. The 35,000 sq ft warehouse incluses 135 car parking spaces. The property is held freehold and has been let to three tenants, Dreams, Pets at Home and Smyths Toys (UK), on full repairing and insuring terms, by way of 15 year leases with five year upward only rent reviews. Edgerley SImpson Howe acted for ISIS Property Trust and Savills acted for the vendor Peveril Securities Ltd. (Jan 2011)