Cooke & Arkwright
News
£14m Welsh Industrial Transactions
17/11/04
Leading specialist industrial property company Ashtenne Plc as manager and co investor of various funds, has facilitated over £14 million of Welsh industrial property transactions in the past six months. Cooke and Arkwright has acted as their agent in three separate deals.
The largest transaction was undertaken by the Ashtenne Industrial Fund Limited Partnership which sold a portfolio comprising 450,000 sq ft of properties across South and Mid Wales for a price in excess of £11.5 million. Cooke and Arkwright acted on behalf of the Ashtenne Industrial Fund Limited Partnership; the properties were purchased by clients of the IO Group.
Cooke and Arkwright has advised the t3 Limited Partnership, a specialist trade park fund which is managed and co-invested in by Ashtenne Plc, on the purchase of the Booker Cash and Carry outlet in Merthyr Tydfil. The purchase price represents a 7.2% net initial yield.
Finally, advised by Cooke & Arkwright, the Ashtenne Industrial Fund Limited Partnership has purchased a 33,720 sq ft self contained unit in Abercynon from TTG Properties Ltd. The property was purchased for £675,000 and produced £85,000 providing a yield of 12.5%.
Graham Davies, Director of Cooke and Arkwright stated, “I am delighted that we have been able to work with Ashtenne to meet its various ongoing requirements”