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LONDON-Prudential Portfolio Investment Managers have purchased the investment value of the Whitbread plc warehouse at Acre Road, Reading from Hermes Property Unit Trust for £9.725 million ($14.17 million), reflecting a yield of 7.6%.

The property is a mid-1990s built distribution warehouse building of approximately 98,422 sf which includes two-storey offices. It is located on the north side of Acre Road in one of Reading’s principal commercial and industrial areas, south of the town centre and accessible via Junction 11 of the M4.

The building is currently let to Whitbread plc for a term of 15 years from 25 August 1995 with a current rent of £779,625 ($1.136 million) per annum that equates to £7.92 ($11.54) per sf.

Cushman & Wakefield Healey & Baker acted for Prudential and King Sturge for Hermes Property Unit Trust.

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