Ignis buys Puma Trade Park

By Bridging Loan Directory -

Property Funds World has reported that the Ignis UK Property Fund has purchased Puma Trade Park in Mitcham from the AEGON Active Value Property Fund for GBP 8,075,000. The deal reflects a net initial yield of 6.05%.

Located fronting the Morden Road, the inner London modern estate totals 47,500 sq ft in 11 units.

The estate offers an average weighted unexpired term of 8.25 years to the earliest determination.  It comprises a mixture of traditional light industrial, motor trade and trade counter tenants including the Dutton Forshaw Motor Company, Multi-Tile and Halfords Autocentres.  Dutton Forshaw trade from four of the units as a Lookers Volkswagen Car dealership.

Jones Lang LaSalle represented AEGON, Ignis was advised by Colliers International.

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