22,886 sq ft building bought by Cabot Properties

Cabot Properties has acquired a new 22,886 sq ft industrial building in Basingstoke for £4.4 million from Kier Property.

Colliers International advised Cabot in the transaction for Unit C at Logistics City at the Houndmills Industrial Estate, which is let to furniture retailer DFS Trading.

Michael Williams of Cabot Properties said: “We are pleased to have concluded the acquisition of Unit C which completes our ownership of Logistics City, Basingstoke, having acquired units A and B in 2019.

“The scheme provides an attractive diverse income profile, a best-in-class specification and further increases the South East exposure within our growing core plus portfolio.”

John Hanson, director in the national capital markets team at Colliers International, said: “Industrial investments are in high demand across the board as the sector’s occupational story goes from strength to strength. To have secured this investment for Cabot Properties is a positive way to start this year.”

Phil Sutton, development director for Kier Property, said: “It is great that we are able to announce this news at the start of 2021 which underlines how resilient the industrial sector continues to be during the pandemic.

“We are looking to expand the Logistics City brand and have a significant land acquisition programme planned this year to extend our development pipeline.”

Kier Property was represented by the Southampton office of LSH.

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