Brackmills Industrial Estate, NorthamptonPosted on October 17, 2016
Purchased in September 2016 on behalf of Royal London Asset Management from Legal & Generals’ Industrial Property Investment Fund (IPIF). The 14.60 acre estate has 21 units let to 15 tenants on 18 leases.
The estate provides 216,118 sq ft of industrial production and warehouse accommodation arranged over 7 terraces.
The units are let to a range of tenants including Business Continuity, Atosa Catering Equipment, Quantum Europoint and Eriks Industrial Services with an average weighted unexpired term of 4.68 years to expiry and 3.47 years to breaks.
The property was acquired for £12.35 million, reflecting a net initial yield of 7.12%.