Shoosmiths advises McKay Securities on freehold acquisition of Columbia House

Shoosmiths has advised McKay Securities plc on its freehold acquisition of Columbia House, Farnborough. The property was acquired from Standard Life Investments for £2.9m, representing an initial yield of 11.1 per cent.

The law firm’s real-estate team was led by specialist Alan Corcoran, who was assisted by associate Simon Shoefield (real estate) and solicitor Marcus Woody (planning).

Columbia House is a modern distribution warehouse with ancillary offices totalling 40,460ft2.

This is the second multi-million-pound transaction the Shoosmiths team has advised on for McKay in a matter of months, having acted on its £2.3m acquisition of the 1.2-acre London Road site at Redhill, in Surrey from Hodnet Properties in June this year.