NG hails strong industrial market after 61,000 sq ft double deal
12th August 2019
Commercial property specialists NG Chartered Surveyors have brokered a deal to sell two prime industrial units totalling 61,000 sq ft.
Acting on behalf of a private vendor, Sunny Landa, director at NG sold Units 1 and 2 Birch Park, Park Lodge Road in Giltbrook, Nottingham to Pemberstone.
The deal resulted in a 6.5% yield for the vendor.
Both units are let to a subsidiary of Travis Perkins until 2028 following the 2008 acquisition of the original business, Birchwood Products Ltd, which had initially constructed the buildings for its own occupation.
“This deals goes to show that, yet again, industrial property continues to be the most valuable on the market. While office and retail have fluctuated, the £5-10m industrial asset sector has proved to be incredibly popular and take-up and yields continue to be strong.”
Pictured with Sunny is Paul Hinchliffe of Nelsons Solicitors who handled the legals on behalf of the Vendor.