Investment – Station Industrial Estate: Bromyard
Sale Price: £1,725,000
Instructed by a private vendor, Harris Lamb’s Investment team was instructed to sell a multi-let industrial estate in Hereford for a guide price of £1,627,750.
Extending to 3.4 acres, with 54,938 sq ft of commercial and office accommodation comprising of eight industrial units and two offices, most of which have undergone a high-specification refurbishment, the site was fully let to five tenants over eight leases.
Almost three quarters of the estate was let to Sapa Profiles, an established, low-risk tenant on long-term lease agreements.
The asking price represented a net initial yield of 9.5 per cent and a reversionary yield of 10.07 per cent, and following high levels of interest from prospective buyers, the business called for best and final bids.
Kindale Ltd successfully purchased the site for £1,725,000, representing a net initial yield of 8.96%.
- ADVICE ON ASSET CLASS
- INVESTMENT & BROKERAGE SERVICES
- CASH FLOW ANALYSIS
- FUND COMPOSITION AND STRUCTURING