On behalf of a private investor, PAI members Brackenridge Hanson Tate have acquired a new build warehouse investment comprising Units 3 & 4, Eden Business Park, Malton from Commercial Development Projects Ltd.
The property comprises 10,000 sq.ft. and was let on a 5 year lease with a 3 year break at a rent of £60,000 pax.
A price of £862,500 was paid, equating to a net initial yield of 6.6%. CDP Ltd were advised by AWS and Lawrence Hannah.
David Brackenridge commented “our client liked the investment because it is let to a good tenant, the unit is new build and was originally designed as two 5,000 sq.ft units which offers flexibility for future sub-division. Furthermore the property is well located, just off the A64 and further development close by will enhance the investment”.