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Owner sought for £61m Co-Op warehouse

Owner sought for £61m Co-Op warehouse

The owner of the Co-Op’s Andover warehouse is preparing for a £61m sale.
 
CBRE has been appointed by Legal and General UK Property Income Fund I to sell the Co-operative Group’s prime regional distribution centre in Andover.

The 517,000sq ft cross docked distribution warehouse, with a BREEAM Excellent Rating, is fully let to the Co-operative Group for a further 16.6 years, providing a long-term secure income stream.
 
CBRE is seeking offers of £61m for the property which would reflect a Net Initial Yield of 5.74%.

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