Henley sells Corby distribution hub to Aviva

Private equity real estate investor Henley sold its CEVA distribution warehouse in Corby to AVIVA for £7.024m, reflecting a net initial yield of 7.57%.

Henley originally bought the property for £5m in 2010 achieving a 20% IRR for its investors on sale. The 196,013 sq ft warehose is let to CEVA Logistics for a further 7.8 years. It produces a net income of £562,754 pa with 3% annual rental uplifts.

19 June 2014 | Article by Paul Norman – CoStar

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