Details

The Estate was acquired originally with a JV Banking Partner. The estate formed part of a portfolio owned in partnership with US investors as part of a Portfolio build up strategy.

The Estate totalled some 180,000 sq ft and was occupied by 40 tenants on a site of some 19 acres.

The Estate was developed in a number of stages from the early 1980s to the mid 1990s and afforded a range of unit sizes for starter units, larger warehousing, manufacturing and office accommodation. At the time of purchase average rents were in the order of £2.75 psf and over time as a consequence of estate improvement rents gradually rose to average £4.40 psf.

At the time of sale occupancy was at 95% and rental income had increased to £530,000 pax. The Estate was subsequently sold as part of a work-out on behalf of the Bank.