Rockspring’s Hanover Property Unit Trust has bought the Court Lane Industrial Estate in Iver, Buckinghamshire, for £12.6m.

Advised by Caisson Investment Management, the fund bought the 510,000 sq ft estate from Trehaven Group at a net initial yield of around 7.7%.

The 14-acre estate fronts the M25 near to Heathrow Airport and has tenants including Ontime, AFI Uplift, Q-Park and Iver Recycling.

Paul Crosbie of Rockspring said: “The site provides accommodation inside the M25 for specialist occupiers that need to be close to Heathrow and west London. The purchase fits well with the planned expansion of our portfolio through investing in property that provides long-term income streams and opportunities for active asset management.”

Philip Stott of Caisson Investment Management added: “The estate’s accessibility and highly visible position, overlooking one of the country’s busiest stretches of motorway, gives it great potential for future rental growth.”

Rockspring and Cassion were represented by Vail Williams and Fresson & Tee and the Trehaven Group was advised by NB Real Estate.