News: Northfield Industrial Estate acquired
Northfield Industrial Estate, a 45,000 sq ft industrial estate in Rotherham has been snapped up by a London-based property group for an undisclosed sum.
On the edge of the town centre, the six unit development houses global company Bodycote Heat Treatments, established local business Main Street Interiors and Rotherham Council.
Based in an established industrial area close to Greasborough Road, occupancy rates are high – with just one 7,500 sq ft unit available to let which has been advertised with Burgess Commercial. The new owners said that they will actively asset manage and invest in refurbishment where required.
Advertisement
Stuart Waite, associate director at Innes England, handled the deal which he says is indicative of investors looking further afield to source opportunities which generate higher returns. He said: "Northfield was an attractive prospect for a number of reasons. Its low capital value and scope for rental growth means the purchasers will benefit from an attractive initial return, and there is the potential to add value through active asset management.
"Over recent months we have seen a marked increase in private and institutional wealth filtering out of the capital and into the regions where there is perceived value compared with that in London and its surrounds. Pioneer Real Estate continues to build its portfolio of assets and we are seeking to assist in the expansion of the portfolio.
"Within the industrial sector there are very few opportunities to acquire assets generating an attractive initial return on capital deployed and we are delighted to have acquired this on behalf of our client who has the required capital and expertise to fully realise the potential of the asset."
Innes England website
Images: Burgess Commercial
On the edge of the town centre, the six unit development houses global company Bodycote Heat Treatments, established local business Main Street Interiors and Rotherham Council.
Based in an established industrial area close to Greasborough Road, occupancy rates are high – with just one 7,500 sq ft unit available to let which has been advertised with Burgess Commercial. The new owners said that they will actively asset manage and invest in refurbishment where required.
Advertisement
Stuart Waite, associate director at Innes England, handled the deal which he says is indicative of investors looking further afield to source opportunities which generate higher returns. He said: "Northfield was an attractive prospect for a number of reasons. Its low capital value and scope for rental growth means the purchasers will benefit from an attractive initial return, and there is the potential to add value through active asset management.
"Over recent months we have seen a marked increase in private and institutional wealth filtering out of the capital and into the regions where there is perceived value compared with that in London and its surrounds. Pioneer Real Estate continues to build its portfolio of assets and we are seeking to assist in the expansion of the portfolio.
"Within the industrial sector there are very few opportunities to acquire assets generating an attractive initial return on capital deployed and we are delighted to have acquired this on behalf of our client who has the required capital and expertise to fully realise the potential of the asset."
Innes England website
Images: Burgess Commercial
0 comments:
Post a Comment