Commercial property consultancy Burley Browne has completed the off-market sale of an industrial investment property in Derbyshire.
A 40,000 sq ft modern industrial/warehouse unit adjacent to Hearthcote Road, Swadlincote, has been acquired by a private property investment company.
The transaction involved a sale and leaseback to Burley Browne’s unnamed client at an agreed sale price in excess of £3 million, reflecting a net initial yield of approximately 7.7% after costs.
The property includes a warehouse which benefits from an eaves height of 8.5 metres with two level access loading doors. It incorporates a reception area leading on to a boardroom and showroom. To the first floor there are additional offices with a personnel lift. It sits within a total site area extending to 2.04 acres with ample parking together with a yard which is accessed via a secure barrier entry system.
Ben Nicholson, senior associate director at Burley Browne, said: “We are thrilled to have been able to secure the sale and leaseback of these well-presented premises on behalf of our client.
“Following receipt of instructions, we commenced off-market negotiations with parties during a difficult and uncertain economic period in the last quarter of 2022. Despite the uncertainty, this sale clearly demonstrates that the market remains buoyant and that industrial warehouse investment opportunities still command confidence, generating competing bids from potential buyers.
“We are delighted that we were able to secure completion of the sale in a well-managed time frame to avoid any disruption to our client’s business operation.”
