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News Release

London

Jones Lang LaSalle completes on acquisition of 274 - 275 Abbeydale Road, Park Royal for £7.67m


London, 14th February 2012 - Aviva Investors Pension Limited has acquired, from a Private Investor, 274-275 Abbeydale Road in Park Royal, West London for £7.67m, reflecting a net initial yield of 7.15%.
 
The freehold property is strategically located to the north of the A406 adjacent to park Royal, providing excellent access to Central London, the A40, M40 and M25. The property comprises a 60,760 sq. ft. detached warehouse unit that has been divided into two separate units - 22,120 sq. ft and 38,640 sq. ft. The property was constructed in two phases; Unit 274 in 1995 and Unit 275 in 1987 but has recently been refurbished.
 
The property is let to two tenants - Unit 274 to Ikea Limited and Unit 275 to Paradise Properties Limited, and currently provides an annual income of £580,912 per annum, £9.56 per sq. ft.
 
Jones Lang LaSalle acted for Aviva Investors while Buchanan Bond acted for the Private Investor.