London Clancy has advised Europa Capital and Addington Capital, the property, investment and asset management specialist, on the sale of a well located long leasehold warehouse investment at 6 Rutherford Road, Daneshill Industrial Estate, Basingstoke, to a private investor.
The property, comprising some 11,000 sq ft is fully let to Wicks and Wilson (part of the Crowley Company) for an unexpired term of seven years, at a rental of £6.95 per sq ft. After allowing for the ground rental payable, and purchasers normal costs, the price obtained equated to a yield of about 8.11%.
Europa and Addington acquired the property as part of the 26 asset portfolio and this is the eighth disposal so far.
Matthew Allen, principal of Addington Capital, said: “This sale is further testament to the strength in demand for sub £10 million properties, particularly from private investors. It is interesting to see they are now considering the industrial market as well as offices for the potential investment gains.”
Jim London of London Clancy said: “This demonstrates the continuing strong demand from investors seeking good quality and well let opportunities in regions across all sectors.”