India, March 12 -- Sirius Real Estate Ltd (SRE.L), on Wednesday revealed that it has signed contracts to acquire a business park, with further development opportunities, in Southampton.
The company will acquire Chalcroft Business Park for 36.5 million pounds, representing a net initial yield of 5.5 percent. A neighbouring 4.5 acres development land with outline planning permission, will also be bought for a sum of 4.0 million pounds.
Chalcroft Business Park spans 56 acres with 267,073 square feet of warehousing and 126,511 square feet of outdoor industrial storage. It also includes a 1.2-acre solar farm that supplies a third of the estate's power. The asset will be operated by Sirius's U.K. operating platform, BizSpace.
The park generate...