UBS buys Slough trading estate

[caption id="attachment_871666" align="alignright" width="200"] Perth Trading Estate[/caption] UBS Asset Management, on behalf of UBS Triton Property Fund, has bought Perth Trading Estate in Slough from CBRE Global Investors for £19m, representing a yield of 5.1%. The multi-let estate comprises 131,946 sq ft of industrial space arranged across nine units and one two-storey detached office block. The asset is let off a low weighted average passing rent of £7.91 per sq ft to seven tenants, including construction and development company SKANSKA, which occupies the largest unit at 40,809 sq ft. The estate has a WAULT of 4.7 years. The acquisition is in line with the fund’s strategy to acquire dominant multi-let commercial properties, especially in the South East industrial subsector. Most of UBS Triton’s 31-asset portfolio is located in the South East and is weighted towards offices, the industrial sector and retail warehousing. Howard Meaney, head of real estate UK and senior portfolio manager for UBS Triton, said: “Perth Trading Estate offers short and long-term asset management potential, including lease renegotiations and redevelopment opportunities.” UBS Triton was advised by JLL; the vendor was advised by CBRE. • To send feedback, e-mail amber.rolt@estatesgazette.com or tweet @amberrolt or @estatesgazette