Heathrow Industrial site changes hand at low yield

Scottish Widows has bought the Blackburn and Court Farm estate at a sub5% yield.

Estates Gazette reported that Scottish Widows Investment Partnership has acquired the property from the BA Pension Fund for £35m. The 180,000 sq ft produces £1.7m annual rental income.

SWIP is reported as saying the Estate offers a redevelopment opportunity, and that such a development will deliver above average returns.

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