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News | Independent Commercial Property Agents | PAI

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Brackenridge Hanson Tate acquire from Clark Weightman

Wednesday, 19 May 2021

Brackenridge Hanson Tate acquire from Clark Weightman

The Investment Panel is working! 
 
Acting on behalf of Ludgate Estates, BHT have acquired 4a Banner Court, Hull which fellow PAI members Clark Weightman were selling on behalf of Medi-Clear Ltd.   
 
The property occupies a prominent position on Priory Park, Hull’s premier business park, and comprises a modern semi-detached industrial unit extending to 1,211.7 sq.m (13,043 sq.ft). 
 
The property was acquired from Medi-Clear Ltd by way of a sale and leaseback following the company acquisition of Medi-Clear by Canadian industrialists.  Medi-Clear took the property on a new 10 year FRI lease subject to a break at the end of the 5th year at a rent of £60,000 pax.   
 
A price of £940,000 was paid reflecting an initial yield of 6.04%.