Kingsbridge has acquired a mixed-use asset on a 2.5-acre site in Bedfordshire for £4m.
The 38,512 sq ft Regent House office and production building is located on Woburn Industrial Estate in Bedford and generates rental income of approximately £469,000 per annum.
The acquisition of the asset, which is fully let to four occupiers, reflects a net initial yield of 11% and a capital value of £104/sq ft.
Greg Lukasiewicz, investment director at Kingsbridge, said: “We’re delighted to add this strategic investment to the Kingsbridge portfolio. This acquisition is in line with one of our core investment themes of acquiring income-producing assets that have the potential for redevelopment in the longer term. This asset provides us with the ability to provide our award-winning landlord service to the existing occupiers while building a future development pipeline.”
Freeths and Parkdales advised Kingsbridge and BCM Chartered Surveyors acted for the vendor.
