Leopard Capital, the newly established property investment fund, has completed the purchase of the Booker Cash & Carry in Salfords, Surrey from a discretionary pension fund client of OLIM Property Limited for £5,050,000 (a net initial yield of 5.68%).
The 41,691 sq ft property sits on a prominent site fronting the A23 and is let for a further 2.5 years to Booker Limited at a rent of £306,000 per annum, reflecting £7.34 per sq ft. The property is reversionary and offers longer term redevelopment prospects.
Leopard Capital, set up by Alex Fordyce in 2017, focuses on industrial and distribution assets across the South and previously bought a retail and office unit in Basingstoke and industrial units in Welwyn Garden City and Trowbridge. Assets under management have increased by over 80% in the last 6 months.
OLIM Property Limited has FUM (Funds Under Management) of over £1 billion for pension funds, charities and investment trusts.
JLL acted for OLIM Property and Knight Frank acted for Leopard Capital.