Solar Park freehold sells for £23m

November 09, 2012 by Peter MacLeod
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Solar Park freehold sells for £23m

BNP Paribas Real Estate (BNPPRE), a leading property adviser, and Collingwood Rigby, on behalf of Friends Life Company Ltd, a fund managed by AXA Real Estate Investment Managers, have sold the freehold interest of Solar Park, Solihull to Ignis UK Property Fund for £22.7m, reflecting a net initial yield of 7.59%.

Solar Park comprises a prime multi let industrial estate totalling c.285,000 sq ft, fully let to seven tenants, currently producing £1,823,140 pa.

GVA acted for Ignis.


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