March 29, 2022
Originally published by React News.
Fiera Real Estate UK (“FRE UK”) is delighted to announce the acquisition of a brewery and distribution hub in Scotland, via a sale and lease back.
FRE UK acquired the 67,700 sq ft property at Eurocentral, 11 miles to the east of Glasgow city centre, for £12m, reflecting a 3.5% yield. The purchase was made on behalf of Fiera Real Estate Long Income Fund UK.
Under the terms of the deal, the property, which sits on a 3.8 acre site, has been let to a Scottish beer giant BrewDog for 20 years.
Other occupiers on the estate include Amazon, Hermes, Next, Lidl and Morrisons. It lies next to Junction 7 of the M8 motorway, the main central motorway linking Glasgow and Edinburgh.
The latest deal comes at a busy time for Fiera Real Estate’s long-income team. Just last week, the fund manager bought a 120,000 sq ft warehouse in Thatcham let to automatic engineering firm Xtrac for £10.9m, reflecting a 3% yield. The property is let on a 76-year unexpired lease.