Columbia Threadneedle swoops for Notts sheds
The investor has bought a 133,000 sq ft multi-let industrial estate at Sherwood Park for £13m, a deal reflecting a net initial yield of 5.92%.
Savills acted for private clients in leading the sale. Lewis Ellis worked for the buyer.
The ownership extends to 132,813 sq ft with a total site area across two plots of 8.43 acres. The property consists of six industrial units which are fully let to a wide range of national and international occupiers including Vink, Laing O’Rourke, Harsco Rail, DSL Group, KSG UK and Staylite.
Each unit is of steel portal frame construction and benefits from private parking and yard provision. The estate produces a total passing rent of £821,000, equating to £6.18 per sq ft.
The property is situated in a well known industrial and logistics location, 11 miles north of Nottingham city centre. Sherwood Park sits directly adjacent to Junction 27 of the M1.
Victor Ktori, director in Savills’ Nottingham investment team, said: “We are delighted to have worked with our client on the sale of Sherwood Park. It is a key commercial hub within the area and one which offers high-quality distribution/industrial space, alongside the excellent location of the property, presenting the new owners with a sound, repositioning opportunity.”
Julian Gallagher, partner at Lewis Ellis, added: “We are delighted to have advised on the acquisition of this prime mid box estate, that offers a number of asset management opportunities to drive value and improve ESG credentials.”
