DTZ Investors Acquire Puma Trade Park, Mitcham
DTZ Investors acquired Puma Trade Park, Mitcham, for £10M. The purchase price reflects a net initial yield of 4.9%.
About nine miles southwest of Central London, Puma Trade Park features 11 units across three terraces totalling 47k SF.
DTZ Investors’ David Peacock says the acquisition represents the fund’s commitment to acquiring high-quality real estate underpinned by strong economic fundamentals. The constrained supply of industrial accommodation, owing to the redevelopment of sites to higher value land uses, and robust demand from industrial tenants has resulted in attractive risk-adjusted returns for the sector.
Knight Frank acted for DTZ Investors. Colliers International acted for the vendor, Standard Life Investments.