Trade City, Bracknell

Kier purchased the 2.4 acre site from Valad, which included a vacant 50,000 sq ft office building.

Key facts:
ClientTravis Perkins
LocationEast Hampstead Road, Bracknell
Value£6 million
Funded ByAberdeen Asset Management

Post-acquisition and in conjunction with Travis Perkins Properties Limited (TPP), a planning application was consented for a seven unit, 41,000 sq ft scheme. TPP pre-let five units totalling 83% of the floor space for their trading brands; Travis Perkins, Toolstation, Tile Giant, City Plumbing Supplies and Benchmarx. The remaining two units were subsequently let to Edmundson Electrical and The Fascia Place Ltd.

Prior to construction commencing, the scheme was forward funded to Aberdeen Asset Management at a Net Initial Yield of 6.57%.