LONDON-Aviva Investors has sold City Cross Business Park situated in Greenwich to Orchard Street Investment Management LLP for GBP 21.1 million, representing 6.25% net initial yield. Orchard Street acquired the park for a pension fund client. The park encompasses six warehouse units and one logistics unit with a total space of 175,096 square feet, and is fully leased to five tenants. The average unexpired lease period is 11.5 years.
In the transaction, Orchard Street was advised by DTRE, while DTZ advised Aviva Investors. For the full story, go to Europe Real Estate .
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