New Lettings Lead to Sale of Loughborough Industrial Estate
30th April 2013
A Loughborough industrial estate has been sold to a Cheshire-based property investment group after a string of successful lettings.
Working on behalf of F&C REIT Asset Management, NG Chartered Surveyors has sold Weldon Road Industrial Estate to Dean Estates Ltd for an undisclosed sum. Torran Investments acted as advisors to the new owners.
NG was first appointed by F&C REIT a year ago to reinvigorate the marketing of Weldon Road to increase lettings. In this time NG secured two new lettings which brought the estate to 100 per cent occupancy, making it an appealing investment for Dean Estates, who will keep NG on as the lettings agent.
Richard Sutton, of NG Chartered Surveyors, said: “When I first visited the estate last year I knew it had great potential. There is still a dearth of speculative commercial buildings in this area, although there is strong demand. The units at Weldon Road are good quality, and the estate sits in the heart of Loughborough’s industrial hub, with easy access to junctions 23 and 24 of the M1 via the A6.
“I then set about marketing the available properties to businesses that needed good quality commercial space, which led to strong interest – and two successful deals. I’m pleased that we’ve been able to fill up the estate, and it’s great that Dean Estates has kept us on as lettings agents.”
The estate offers units from 5,828 to 7,075 sq ft. It is popular with distribution and warehousing companies; current tenants include Bantock Flowers and Urban Planters and Evance Wind Turbines.
Ben Roberts, of Torran Investments, said: “We are delighted to have secured this off-market opportunity for Dean Estates. The now fully let estate offers a strong yield with a good spread of risk.
“We are keen to find similar high-yielding multi-let industrial opportunities for Dean to help expand its growing national portfolio.”