Cooke & Arkwright

Industrial estates sold for £3m

25/08/09

Cooke & Arkwright’s investment agency department has sold two industrial estates totalling some 79,000 sq ft for the Ashtenne Industrial Fund for a price of £3m, reflecting a net initial yield of 10% on the existing income.

Britannia Industrial Estate in Blackwood and units 1-14 in Merthyr Industrial Estate have been bought by Longford Investments (No 1) Ltd, who have retained Cooke & Arkwright on the professional and agency work.  The tenants on the estates include Edmundson Electrical, Merthyr Tydfil Borough Council, Castell Howell Foods, City Electrical Factors and various individuals. 

Nicholas Golunski of Cooke & Arkwright said, “The industrial units offered a good spread of tenants with possible asset management opportunities. 

“Completing investment transactions in the market remains problematic but the current margin over funding rates is extremely attractive where deals can be structured.”

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