TDB Real Estate acquired of Unit 7 Blackstone Road, Huntingdon on behalf of a private client
Net Initial Yield: 7.44%
TDB Real Estate acquired of Unit 7 Blackstone Road, Huntingdon on behalf of a private client.
The industrial/warehousing premises comprises 71,742 sq ft and is let for 10 years to R3 Polygon UK Ltd. The purchase price of £3,050,000 represented a net initial yield of 7.44%. The vendor was Standard Life.
Mark Brown at TDB commented; “we advised our clients to buy this investment for a number of reasons. The tenant has been in occupation of the building for 20 years and had just signed another 10 year lease, the passing rent of just £3.35psf was regarded as extremely reversionary, the tenant has a clean use, is a good covenant, and the building has been substantially refurbished/upgraded. The basic specification of the building with an 8m eaves height and the location in Huntingdon adjoining the A14/A1 we also significant factors in the decision to purchase this investment property”.Back to sector