A purpose built multi-let industrial estate constructed in the early 1990’s comprising 8 units in three well configured terraces. The property was acquired from CEG in March 2018 for IO Asset Management by way of an off market transaction for £7.95M (5.31%).
At the date of purchase the estate included two vacant units (24% by area). B8 Real Estate were able to advise in detail and with confidence on the refurbishment works required together with the rental level which could be achieved within the anticipated void period, which would subsequently add value to the estate.
The property purchase was executed under a strict timescale and demonstrates B8RE’s ability to seek out off-market transactions and also to provide detailed market knowledge and ultimately occupational support to support a purchase which included significant vacancy. B8 Real have subsequently been retained as letting agents on the estate.