- McKay Securities PLC, the real estate investment trust specialising entirely in the South East and London office and industrial markets, has announced the acquisition of a freehold distribution unit for £10.7m.

The 96,850 sq ft distribution facility is located at Junction 12 of the M4 motorway, adjacent to the Arlington Business Park at Theale in Berkshire.

Simon Perkins, managing director of McKay said: "This acquisition was completed within five working days from the agreement of terms, demonstrating our quick decision making process, rapid execution capability and the benefit of having availability of funds.

"This is an excellent opportunity let to a first class operator. The supply of warehouse accommodation in such close proximity to the M4 motorway is limited, and the location, size and large secure yard are all positive characteristics that will appeal to occupiers."

At 9:59am: [LON:MCKS] McKay Securities PLC share price was -1.5p at 251.5p

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