Caisson advises Rockspring on industrial investment acquisition

 Nov 2011

Rockspring on behalf of Halifax Pension Nominees Ltd, advised by Caisson Investment Management, has acquired the freehold investment of six industrial properties at Walker Park, Blackburn, Lancashire from Rosedale Property Holdings and Downham Properties Limited, private clients of Bilsdale Properties, for c. £7.5 million.

Units 9-12, 16 & 17 Walker Park total 195,567 sq ft and produce an annual income of £829,650. Tenants include Rolled Alloys, Castle Metals, and Wincanton plc. The transaction reflects a net initial yield of 10.25%.

James Ward of Caisson Investment Management says: “We are pleased to have acquired this quality industrial estate on behalf of our client Rockspring, which provides a secure income backed up by strong covenants, with some clear asset management initiatives to enhance value.”

Paul Crosbie at Rockspring adds: “This acquisition complements our other multi-let industrial assets which require specialist asset management. The estate has great potential and with some careful asset management to bring added value, we fully expect it to perform well.”

Hanline Associates acted for the vendor. Joiner Cummings represented the Purchaser.

- ENDS -

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