London & Stamford Property has completed the acquisition of the freehold distribution unit at Tamworth for £33.3 mln (EUR 38 mln) from Clerical Medical Investment Group. The transaction which was announced on 29 January reflected an initial yield of 9.5%.

The 54,000-m2 unit is let to Focus DIY for a further 14 years and operates as its national distribution centre. LSI Management advised London & Stamford in the deal.

London & Stamford Property is a closed-ended investment company based in Guernsey which was established on 1 October 2007 in order to exploit opportunities that it anticipated in the UK property cycles.