News: Rotherham industrial units sold

J Pullan & Sons Limited has acquired Units 1-4 Kea Park, Hellaby Industrial Estate, Rotherham for £2.26m.

Global real estate adviser DTZ acted for Pullan's who acquired the property from The Duchy of Lancaster.

The property, totalling approximately 63,000 sq ft, comprises four modern and well specified industrial units and is located at junction 1 of the M18.

Constructed in 1998/9, the property is let to three tenants including Greenberg Glass and Glazing Ltd and Cryostar UK. The purchase price of £2.26m represents a net initial yield of 11.52%.

James Lawlor, Investment Senior Surveyor at DTZ said: "We are delighted to have advised Pulllan's on this acquisition. Whilst the market remains challenging, this recent deal demonstrates the opportunities available for investors where vendors have priced stock appropriately."

Drivers Jonas Deloitte advised The Duchy of Lancaster.

J Pullan & Sons Limited website
DTZ website

Images: Drivers Jonas Deloitte