Forsters has advised Fiera Real Estate UK on £12m acquisition
Forsters has advised Fiera Real Estate UK on the acquisition of a 6.1 acre site in Loughborough for over £12million.
The property was acquired by Fiera Real Estate Long Income Fund UK (“FRELIF”) by way of a purchase and leaseback to Meggitt Aerospace Ltd for a term of 20 years.
The site provides a total of 98,868 sq ft across four main buildings situated within one mile of junction 23 of the M1. The cities of Nottingham and Leicester, both dominant economic centres for the East Midlands region, are 19 miles north and 13 miles south respectively.
Rupert Sheldon, Head of CORE REIM and Fund Manager of FRELIF, commented, “The acquisition of this property aligns well with the investment parameters of FRELIF being a mission critical facility for the occupier located within the ‘Golden Triangle’ and offering 20 years of inflation-linked secure income. The acquisition helps extend FRELIF’s overweight position to the favoured industrial segment of the market and enhances all of the Fund’s key metrics of long, strong and progressive income. We remain acquisitive across our core mandates, with capital available to deploy into properties that share similar characteristics.”