BAE Building Acquired by Hardington Capital
Hardington Capital has completed the acquisition of the BAE Systems building in Yeovil, Somerset.
The building, let to BAE Systems (Operations), comprises 51,700 sq ft of offices with just over six years remaining on the lease. BAE Systems is a global aerospace and defence company with close ties locally to Leonardo (Westland Helicopters) and the MOD at RNAS Yeovilton.
The acquisition marks a further acquisition for Hardington’s Propco Fund portfolio.
The buildings were bought pre-marketing at an net initial yield in excess of 8.5% for circa £7.8M.