Metric Income Plus Partnership (JV between USS and LondonMetric plc) have acquired the freehold interest in The Range, Ivy Road, Aldershot from private clients of STR Capital Partners LLP for a price of £5.55 million. The property comprises a standalone retail warehouse unit extending to approximately 22,902 sq ft and is let to The Range for 15 years from August 2011 at a current rent of £322,363 per annum (£12.45 per sq ft). The lease includes a fixed rental increase in August 2021. The purchase price reflects a net initial yield of 5.45%, rising to 6.15% in 2021.
MIPP were advised by Wilkinson Williams.
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