Edgerley Simpson Howe LLP

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Recent investment Transaction

ESH acquire Carphone Warehouse, Milton Keynes - April '13

29th April 2013

A pension fund client of ESH has purchased the freehold of the Carphone Warehouse unit on Elder Gate for £2.46 million reflecting a net initial yield of 6.53%. The property is located on the corner of Grafton Gate and the A509 and comprises approximately 6,518 sq ft let to The Carphone Warehouse on a lease expiring in July 2023. The passing rent equates to £26 per sq ft. The planning consent is open A1 non-food. Lewis & Partners advised the vendors, a joint venture between LaSalle Investment Management and Flodrive.