Property investor McKay Securities said it had acquired fully let logistics asset in Bracknell for £10m. The acquisition price represented a net initial yield of 5.6%. The 2.7 acre freehold estate at 1-4 Willoughby Rd, consisted of two modern, self-contained units totalling 54,157 square feet with large secure yards. One unit was let to Acal BFI UK and the other to Accident Exchange. McKay said the combined contracted rent of £594,722 per annum provided scope for future growth based on recent lettings in the town and the leases offered potential vacant possession for redevelopment in 2024.
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