LONDON-London & Stamford Property Plc has acquired a distribution warehouse spanning 273,115 square feet in Harlow, Essex. The company has purchased the warehouse, let to Tesco Stores Ltd., for GBP 22.9 million, reflecting a net initial yield of 7.5%.
Tesco Stores, which uses the unit to distribute its products to its stores in the South East and London, will occupy the facility for 12.5 years. London & Stamford will add the acquisition to the existing distribution assets in the South East. For the full story, go to PropertyMall .
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