Following a marketing campaign that attracted a huge amount of local and regional interest, Rushton Hickman went to best and final written bids in agreeing the sale of two industrial units on the edge of Burton town centre.
Units 1 & 2 Millers Lane, two tenanted industrial units totalling circa 5,000 sq ft, have been sold and achieved an “extremely strong yield.”
The sale comes as a scarcity of new and second-hand industrial availability has created a situation where local landlords are seizing the opportunity to capitalise on the market.
Douglas Harvey, senior agency surveyor at Rushton Hickman, said: “This is a prime example of how hot the market is right now.
“Competition amongst the investors to acquire these units was fierce and after just a week on the market and going to best bids, we achieved a sale price for our client that represented a very robust yield of 5.6%.
“This is historically a level of demand we have only seen for units occupied by ‘blue-chip’ national or international tenants, and to achieve this level for smaller units is we believe unparalleled in the local market.”
