Hadrian Industrial Estates has acquired a portfolio of multi-let industrial estates in County Durham from Snowlarch for £1,280,000, in a deal reflecting a NIY of 9.35%.
The estates in Shotton Colliery, Wheatley Hill and Wingate, offer 17,225 sq ft of industrial space and benefit from high occupancy levels.
Jamie Sim, from Avison Young’s capital markets team, which represented Snowlarch on the sale, said: “Avison Young and Jackson & Partners are delighted to have advised Snowlarch on the disposal of three multi-let industrial estates in County Durham. Our client acquired the portfolio in 2019 and adopted an active asset management strategy for the estates which has proven to be very successful.”
David Jackson, from joint agents Jackson & Partners, added: “I’ve been involved with the letting of these units for a number of years and they have consistently proved popular with occupiers, it was therefore not a surprise that we received so much positive interest in this portfolio which no doubt will be an exciting acquisition for its new owners.”
Catterall and Co acted for Hadrian Industrial Estates.
