Investment – Station Industrial Estate: Bromyard

Sale Price: £1,725,000
Yield: 8.96%

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%.

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