The properties are: the 259,814-sf Plot 6100 Gloucester Business Park, let to Wincanton Holdings, which was sold for £17.2 million at a 7.3% net initial yield; the 191,301-sf GE Lighting unit at Brackmills Industrial Estate, Northampton, sold for £13.1 million at a net initial yield of 7.38%; Wincanton Holdings' 123,178-sf distribution unit at Rotherham Road, Maltby, South Yorkshire, sold for £6.25 million at a 9.0% net initial yield and the 208,42-sf Unichem Unit at Amber Park, South Normanton, Derbyshire sold for £10.7 million reflecting a net initial yield of 7.3%.

Strutt & Parker represented the purchaser and the vendor was represented by King Sturge.

Andy Yeandle, Partner at Strutt & Parker, said: "There is clearly a great deal of interest in the UK commercial real estate market from Middle Eastern investors and this deal marks the first £50 million tranche in an anticipated £250 spend over the next 12 months. Having worked with Kuwait Finance House to identify the best investment criteria for the fund and get the right structures and procedures in place, the timing is right to start this aggressive acquisition programme. We have now started seeking suitable opportunities to take advantage of the prevailing low interest rates which assist in achieving attractive cash on cash returns for our client."