Glenstone purchases industrial warehouse in Milton Keynes
Posted on March 24, 2023
Glenstone REIT Plc are pleased to announce the off market acquisition of a freehold industrial warehouse in Milton Keynes.
The property is let to FMG Repair Services Ltd with 8 years left on the lease (3 until the tenant break). The lease is guaranteed by Northgate Vehicle Hire Services.
The acquisition forms part of Glenstone's current strategy in acquiring prominent assets at close to vacant possession / rebuild value.
Glenstone's Property Investment Manager Sam Russell, commented, "This off market acquisition provides an excellent addition for Glenstone REIT, with a strong underlying site value. It is let to strong covenant that trades well from the location and has made recent investments in the building."