The freehold of two tenanted commercial units on Homefield Road in Haverhill, Suffolk has been sold to a private investor for £2.2 million through the Cambridge office of PAI member Barker Storey Matthews.
With a combined rent of £165,000 per annum and totalling almost 2,700 sq m (29,052 sq ft) the two modern semi-detached properties at Units A & B Homefield Road are on a self-contained site within this popular and established commercial location of the town.
The properties were sold with Unit A subject to a new lease to Radford Group following the property’s recent refurbishment and Unit B let to Cambridge Nanotherm.
Reflecting a net initial yield on investment of just over 7 per cent, Barker Storey Matthews’ Director, Ben Green believes this latest sale illustrates the strength of investors’ interest in the commercial property market and, in particular, the industrial sector.
He says, “With ongoing low interest rates, there are well-financed private investors seeking freehold opportunities but few properties are coming to market for sale.
“The region is popular with investors being an area of high growth and with good prospects for rental growth, especially with regard to quality industrial property.”
For more information about freehold investment opportunities, visit bsm.uk.com.