A private client of Cew Capital LLP has acquired the freehold interest in two prime mid-box industrial assets in Buckinghamshire for a total of £13 million.
In Aylesbury, the private wealth investment management firm has bought the recently developed Unit 3 at Aesop Business Park from W Lamb for £8.9 million, reflecting a net initial yield of 4.89%. The 53,002 sq ft warehouse property is let to Hexatronic UK on a lease expiring in 2030.
Cew has also acquired Luna House in Milton Keynes from Milton Keynes GP for £4.1 million, reflecting a net initial yield of 6.20%. The 32,611 sq ft building is let to Parker Hannifin Manufacturing until May 2025.
Felix Hartley Russell, senior surveyor at Gerald Eve, said: “Both Luna House and Aesop Business Park are high quality, single-let industrial assets in core locations, acquired against strong competition. Providing resilient medium-term income to our client, they offer a good opportunity to secure longer lease lengths through asset management in the future. These are the first industrial acquisitions for the client.”
Gerald Eve advised Cew Capital on both transactions.