Vertex Data Science, the current tenant, has a ten-year lease, providing a rental income of £338,335 per annum, equating to £11.07 ($15.80) per sf. Jones Lang LaSalle acted on behalf of the purchaser and Dunlop Heywood Lorenz represented the vendor.

Henderson Global Investors has also recently acquired Circle South, a multi-let industrioal estate at Trafford Park, Manchester, for more than £7 million ($9.99 million). The purchase price reflects a net initial yield of 7.375%. This multi-let industrial site, developed by Green Properties, covers 112,427 sf and provides a rental income of £556,788 ($794,927) a year, with the average rent being £4.94 ($7.05) per sf.

Current tenants at Circle South include, Omnicron Electron, Brands Hatch Leisure Group, Lex Harvey and Ionics. Jones Lang LaSalle represented the purchaser and FPD Savills advised the vendor.

In a simultaneous deal, Jones Lang LaSalle advised LaSalle Investment Management on the £4.7 million ($6.71 million)purchase of the Stag Industrial Estate, Manchester, from RREEF. The deal shows a net initial yield of over 8%. FPD Savills advised the vendor.

The 80,567-sf estate is multi-let to tenants including Crown Paints, Newey & Eyre, Akzo Nobel and City Electrical Factors. It provides a rental income of £507,407 ($724,425) per annum, the average rent being £5.06 ($7.22) per sf.

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