Acting on behalf of the administrators for London & Westcountry Estates Ltd, the Bristol investment team of Knight Frank has sold a portfolio of seven industrial estates in Bridgwater for £8,515,000, reflecting a net initial yield of 11.15%.

The Bridgwater portfolio, comprising 59 units totalling 195,243 sq ft, has been sold to Parabola Capital LLP & Caisson Investment Management. The portfolio consisted of 43 tenants with 95% occupancy, and produced a total income of £1,004,232 per annum.

The purchaser was advised by Hartnell Taylor Cook.

Steve Oades, partner at Knight Frank, said: “There is currently strong investor appetite for multi let industrial estates particularly those that are relatively high yielding. The Bridgwater deal was a good example of this and we received a good level of competing interest for the assets.”

DEAL INFORMATION

Sector > Investment sale: Multi Let Industrial
Price > £8,515,000
Yield > 11.15%
Tenure > Freehold
Total Area > 195,243 sq ft
Capital Value > £44 per sq ft
Total Rent > £1,004,232 pa
WAULT > 3.22 years
Vendor > London & Westcountry Estates Ltd (in administration)
Purchaser > Parabola Capital LLP & Caisson Investment Management

For further information, please contact:

Ken Harrison, HPR Marketing, kharrison@hprmarketing.co.uk. Call 07801 649045
Alice Mitchell, commercial pr manager, Knight Frank, +44 (0)20 7861 5168