A warehouse scheme in North Somerset, which is earmarked for retail giants Aldi and Pets at Home, has been forward funded by the Mayfair Capital Property Unit Trust.

The trust announced its intention to forward fund the 22,000 sq ft Clevedon project, which is being developed by a joint venture between McLaren Property and Life Property. The development has been pre-let to Aldi Stores and Pets at Home, providing a net initial yield of 6.1 per cent.

At the same time, the trust agreed to buy a 24,500 sq ft office at Amersham in Buckinghamshire for £5m and a 14,850 sq ft office at Maidenhead in Berkshire for £5.2m.

Robert Palmer, chief investment officer at Mayfair Capital, said: "These purchases offer the fund further diversification providing it with exposure to the strong South East office market and a very prominent retail warehouse scheme, which all offer strong rental growth prospects and an attractive yield."

The Mayfair Capital Property Unit Trust is a fund managed by Schroder Property (Jersey) with Mayfair Capital as its property adviser.