Wed, 13 Jul 2011 | COMMERCIAL PROPERTY
Lancashire firm Strang Investments has acquired a large industrial estate for £2.2 million.
The site, called Eurolink 31, is based at Normanton Industrial Estate in West Yorkshire and comprises 49,181 sq. ft. of industrial space.
Eurolink 31 was marketed for sale through Leeds-based agent Steadman Brierley on behalf of owner Standard Life Investments. The investment team of property consultants Jones Lang LaSalle acted on behalf of Strang Investments to action the acquisition.
According to Insider Media, some of the tenants currently based at the estate include Aquados, Car Finance, and SCS Components. The longest running lease is due to expire in 2020.
Jones Lang LaSalle's Andrew Summersgill, who led the acquisition, told Insider Media, “This is a good example of the level of return that is attracting smaller investors back to commercial property where the underlying characteristics are robust.
“This is a good quality estate in a prominent location with diversified exposure to several tenants,” he added.
The estate pulls in a combined rental income of £225,000 a year – equivalent to an average of £4.59 per sq. ft. According to Jones Lang LaSalle, this represents a 9.7 per cent yield.
A superbly formed nationwide care employment provider in walk-in condition, highly-recommended and praised by their end users.
An unexpected kitchen and bedroom manufacturing and supply operation. The business is situated on an industrial estate in Lancashire, boasting an impressive showroom with separate large workshop.
A lasing and well-founded flooring company located in a prime, and popular trading estate. This offering comes with valuable contracts with prominent contractors, benefits from good reputation with regular and repeat trade.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.