PAI member Powell Lloyd has recently advised an overseas client on the investment acquisition of the Osprey Portfolio, a well let industrial portfolio comprising 4 properties located around South Wales.
James Sanders, Director of Powell Lloyd stated; ‘ The industrial investment market is extremely strong at the moment and this portfolio provided our client with a good return on properties that are located within close proximity to major conurbations with strong transport links. The assets are all single let to solid tenants off a low average rent of £2.56psf therefore providing opportunities for future rental growth.’
The assets comprise; Elba Business Park and Fabian Way in Swansea, Henry Thomas House in Cwmbran and Unit 4 Abercanaid in Merthyr Tydfil. In total the properties provide over 400,000 sq ft of industrial accommodation. The portfolio was purchased for £15.2m showing a net initial yield of 7.25%.
Knight Frank acted for the vendor, Edmond de Rothschild REIM