Rearsby Business Park in Leicestershire has been put on the market for the first time with a price tag of more than £10.25m.
The 155,985 sq ft multi-let industrial estate sits on a 12.95-acre site 15 minutes from the M1.
It comprises 15 fully let industrial units, ranging in size from 791 sq ft to 50,047 sq ft. The estate also has planning permission for a 56,400 sq ft industrial unit or alternative uses subject to planning.
The site was home to Taylorcraft Aeroplanes’ factory, where the world-famous single propeller ‘Auster’ light aircraft was designed and manufactured. More recently it was occupied by Rearsby Automotive from 1966 to 1996.
Oli Forster, senior director in CBRE’s investment properties team, which is marketing the site for the private owner, said: “This is the first time the site has come to market, having been under its current ownership since the 1970s. As such, it’s a great opportunity to acquire a well-established, fully let industrial estate with strong rental income. Given the shortage of industrial land in the East Midlands, the consented site presents further opportunities to add value.
“The estate is in the heart of the East Midlands’ industrial market, which is continuing to attract high levels of investment and take-up from occupiers, with the region accounting for 29.5% of the total national logistics take-up during the first quarter of 2024 and maintaining headline rents of £9.75/sq ft following a period of sustained growth, which CBRE forecast will continue to rise. Prime industrial rents in the East Midlands have remained stable, following a sustained period of growth, which CBRE forecast will continue to rise.”
