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F&C UK Real Estate : FCRE – acquisition

F&C UK Real Estate has bought a retail warehouse in Bromsgrove for £7.55m. the warehouse has two units, one of which is let to Homebase Ltd for 20 years at GBP362,500 per annum and the other is let to Pets at Home Ltd for 15 years at GBP132,750 per annum – this works out as an initial yield of 6.2% on the purchase price.

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