Cotswold industrial estate purchase
Sampson Moore have advised property company clients on the purchase of a multi-let industrial investment at Worcester Road Industrial Estate, Chipping Norton. The purchase price was £1.925m reflecting an initial yield of 9.77%. The estate comprises 38,785 sq ft producing £199,020 pa. The purchaser intends to carry out some refurbishment and active management.
Further sale and leaseback deal
Sampson Moore have advised fund manager clients on a further sale and leaseback purchase from Metalrax Group plc at Sedgwick Road, Luton for a price of £880,000. The vendor took a 15 year leaseback at a rent of £100,000 pa , with annual RPI uplifts. The purchase reflected an initial yield of 10.73%.
Industrial sale and leaseback deal
Sampson Moore have advised fund manager clients on the purchase of two industrial properties at Northfield Industrial Estate, Market Deeping and Crossgate Road, Redditch for a total consideration of £1,820,000. The vendor was Metalrax Group plc, who took a 15 year leaseback at rents of £96,500 pa and £110,000 pa respectively, with annual RPI uplifts. The purchase reflected an initial yield of 10.73%.
Sampson Moore have advised a private client on the £850,000 purchase of a retail investment at High Street, Chepstow. The property is let to The Factory Shop Limited for a further 14 years at a rent of £64,000. The purchase reflected a net initial yield of 7.1%.
Shrewsbury rent review
Rent review concluded.
Sampson Moore have concluded a rent review at 12 High Street Shrewsbury on behalf of the landlord. The new rent to be paid by tenant Essensuals from November 2008 is £40,000 pa.