Custodian REIT buys sixth unit in Liverpool business park

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It is occupied by Engineering Solutions and Automations Limited with an unexpired term to first break or expiry of four years () announced it acquired a 9,016 square feet industrial unit on Knowsley Business Park, Liverpool. The UK property investment company said it has already bought five units in the same park earlier this month.  READ: Custodian REIT expects to maintain dividend in current year The new unit is occupied by Engineering Solutions and Automations Limited with an unexpired term to first break or expiry of four years. It has a passing rent of £45,000 per annum, reflecting a net initial yield of 5.17%, the group said. The agreed purchase price of £825,000 was funded from the firm's existing debt facilities, resulting in net gearing increasing to 25.6% loan to value. "We are delighted to have secured another unit at this established industrial location with strong evidence of increasing rents. We expect this unit's net initial yield to increase above 6%
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