Located to the north of Blackpool town centre, the property comprises a well-established industrial estate providing 34 units across 5 terraces on a secure 2.79 acre site.
The property was well let to a variety of different tenants with an AWULT of 3.08 years. The property was presented to potential purchasers in a phased manor, firstly be directly approaching active agents and investors prior to widely circulating the opportunity to the market.
Due to the large number of tenants associated with this investment a significant amount of due diligence was undertaken to ensure that the information presented to investors was accurate and correct.
Throughout the sale process we were careful to ensure what all interested parties where kept up to date with any changes to the tenancy schedule which ensured that a number of informed bids were received following an informal tender process.
The property was placed under offer to Sheffield & Regional Properties and B8RE liaised closely with the purchaser to ensure they were fully informed of any changes to the tenancy line up during the sale process.
The sale of the property completed recently for £2,275,000 reflecting a net initial yield of 8.29%.
Client: Caisson Investment Management
Type: Multi-let industrial investment sale
Value: £2,275,000 – 8.29%%
Tenancy: Multi let with AWULT of 3.08 years (2.88 years to break)