- Warehouse REIT said it had exchanged contracts to acquire a multi-unit estate in Northampton let to John Lewis and a multi-let industrial estate in Aberdeen.

The assets were purchased in two separate transactions for £37m, reflecting a blended net initial yield of 6.6%.

In Northampton, the company acquired the freehold of two John Lewis distribution units, totalling 336,000 square feet.

John Lewis had signed new five-year leases, with a headline rent of £1,836,395 per annum across both units.

In the second transaction, the company acquired the long leasehold 125,000 square foot Murcar multi-let industrial estate in Aberdeen.

The estate was arranged across four separate terraces and was 100% let to a range of occupiers, with a weighted average unexpired lease term of eight years.

It generated a total net passing rent of £776,030 per annum.

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