A private property company has sold the freehold interest in the Manford Industrial Estate in Erith to an institutional investor for in excess of its £12.5m guide price.
The 67,550 sq ft estate, which is located on Manor Road, close to the M25, comprises 27 units ranging from 2,500 to 6,762 sq ft and is let to a variety of different occupiers.
The asset currently produces annual rental income of £809,796 and there is the potential to increase rents at the estate.
Martin Clark, investment partner at SHW, which represented the private property company on the sale, said: “By offering the property to a carefully selected group, we were able to complete a sale in the timescale required and at a price in excess of the £12.5m guide figure. The knowledge of the SHW M25 industrial agency team, led by SHW’s senior partner Alex Gale, was vital, allowing us to clearly illustrate the reversionary nature of the asset and the future opportunities that lie ahead for the buyer.”
Lewis Ellis represented the purchaser.
