Columbia Threadneedle has acquired a multi-let industrial estate at Sherwood Park in Nottingham for £13m in a deal reflecting a net initial yield of 5.92%.
The 8.43-acre site comprises six units providing 132,813 sq ft, which are fully let to a wide range of national and international occupiers.
The estate, which is located 11 miles north of Nottingham city centre, produces a total passing rent of £821,000, equating to £6.18/sq ft.
Victor Ktori, director in Savills’ Nottingham investment team, which acted for the private client on the sale, said: “We are delighted to have worked with our client on the sale of Sherwood Park. It is a key commercial hub within the area and one which offers high quality distribution/industrial space, alongside the excellent location of the property, presenting the new owners with a sound, repositioning opportunity.”
Peter Atkinson, director in Savills’ Newcastle investment team, added: “It was great to deliver another top result for our clients utilising the team’s unique insights, depth of knowledge and collaborative approach.”
Julian Gallagher, partner at Lewis Ellis, which advised Columbia Threadneedle, said: “We are delighted to have advised on the acquisition of this prime mid-box estate, that offers a number of asset management opportunities to drive value and improve ESG credentials.”
