Rockspring’s Hanover Property Unit Trust, advised by Caisson Investment Management, has acquired the South Portfolio from the Ashtenne Industrial Fund for £62.0m, reflecting a net initial yield of 7.5%.

The portfolio, located in the South East of England, comprises ten multi-let industrial estates and one office building totalling 171 units and nearly 900,000 sq ft.

The assets are let to a diverse range of approximately 120 tenants at an occupancy rate of c. 91.0%.

The portfolio currently generates an annual passing rent of c.£4.9 million. Caisson will manage, re-gear and increase this income through the application of targeted capital expenditure and active asset management.

-Ends-

Contact for enquiries

Lisa Allsup

Caisson Investment Management

Lisa.Allsup@caisson-im.com

+44 207 280 9600