£2.4m Industrial Unit Acquired for Private Clients
Acting on behalf of Private Clients, Edwards & Co have acquired a single let industrial unit in Barnsley.
The property is well located on the Cortonwood Business Park, home to Morrisons, B&Q, Matalan and the Cortonwood Shopping Park. It is let to Forbo Flooring on the residue of a 20 year lease.
The property was purchased for £2,400,000, reflecting a net initial yield of 7.85%. Knight Frank represented the vendor.
Martin Hamer of Edwards & Co comments: "This is a modern unit in an excellent location on a fully let business park, with swift access to the motorway network. The property is inherently reversionary and was acquired for only £50 per sq ft, which is less than build cost and VP value, and so represents excellent value. Consequently, we are delighted to have acquired this for our clients."