Stafford 88, Acton Gate, Stafford, ST18 9AA
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LaSalle Investment Management (“LaSalle”), the leading global real estate investment manager, has announced the sale of Stafford 88, an industrial unit in Acton Gate, Stafford for £4.48 million. The transaction represents a net initial yield of 7.5 per cent.
The modern, three bay steel portal frame warehouse facility, which includes two floors of integral office space, was sold on behalf of one of LaSalle’s pension fund clients to Staffordshire County Council Pension Fund (“SCCPF”). The 88,654 square foot property is fully tenanted, having been let in 2009 to Stone Computers Limited for a 15 year term.
Stone Computers Limited is a leading technology solutions provider and is the UK’s largest privately owned computer manufacturer, specialising in the supply and support of ICT and audio-visual solutions to schools, colleges, universities, local government, the NHS and the Ministry of Defence (MOD).
Tudor Toone acted on behalf of the pension fund client. Atlas Real Estate acted for Staffordshire County Council Pension Fund.
