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Gatehouse secures data storage facility

Gatehouse secures data storage facility

Gatehouse secures data storage facility

London, UK: Gatehouse Bank plc (Gatehouse), a wholesale Shariah compliant investment bank based in the City of London, has completed the £25.2million acquisition of a strategic data centre in the South of England, representing a Net Initial Yield of 6.96% on corporate purchaser’s costs. The property has been leased to global technology firm, Atos on a multi-year let with no lease breaks. The lease also has annual RPI- linked rental uplifts from 2015 and a vendor rent top-up, enhancing investor returns from the day of acquisition. Given current sector rental levels, and the planning permission in place to potentially expand the property, there is also significant reversionary potential.

Stuart Jarvis, Associate Vice President, in the Real Estate team at Gatehouse Bank said: “Investor demand remains high for data centres given the supply constraints, particularly for fully-fitted centres with high specification infrastructure. Similarly, the increasing need for businesses to store and retrieve data in order to comply with corporate, regulatory and statutory requirements has brought this sector into sharp focus for our real estate investors. We are pleased that despite today’s current economic climate we are consistently able to source, and select outstanding properties that deliver secure income returns.”

Excellion Capital acted for Gatehouse Bank, with GVA acting for the vendors, Cadena.

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