MODERN INDUSTRIAL INVESTMENT ACQUIRED FOR PRIVATE CLIENT
Acting on behalf of a private client, Tim Harries & Partners have acquired this modern freehold industrial warehouse investment property let to UK Accident Repair Centres with surety, a division of Direct Line Insurance, on a lease until December 2021.
Located on the highly-successful Willow Farm Business Park, adjoining East Midlands International Airport at the intersection of the M1 and A50, the property has regional appeal and currently serves as a vehicle accident repair hub for the east midlands region. The location has received national recognition following completion of a 900,000 sq ft distribution centre for Marks & Spencer immediately adjacent.
The attraction to the client was the strength of location and the enhanced specification of the property which also comes with a large, secure yard, combined with the attractive yield profile for secure income.
The purchase price of £1.075 million reflected a net initial yield of 9.7%.
