- What A unit on the Crowther Industrial Estate in Washington has been sold
- Why South African family office making move for long-let building
- What next 10-year lease recently renewed with the tenant
On behalf of South African family trust Marr Holdings, we are delighted to have acquired the Crowther Industrial Estate in Washington, near Newcastle.
The 55,000 sq ft building has traded for £3.23m, reflecting a net initial yield of 6.64%. It is let to Opsec Security, which has been based in the building for around 25 years and has recently signed a new 10-year lease on the property with a five-year break.
The industrial estate sits at the convergence of the A1(M), A194(M) and A1231, giving it access to several key markets in the North East.
Estate Office and Hughes Paddison Solicitors acted for Marr Holdings while Cushman & Wakefield and Reed Smith acted for Telereal Trillium.
Leading on the acquisition, Richard Wolfryd of Commercial at Estate Office said: “I am delighted to have secured this property for our client which I believe will prove to be a sound acquisition. The location and the asset benefit from first class fundamentals with an established tenant who has recently committed their future to the property.
Jaysen Golding of Marr Holdings said: “This is the seventh UK/Europe property transaction concluded by our group in the last 24 months as it seeks to actively acquire a substantial real estate portfolio in those locations. Our investment mandate is non-sector specific, rather focusing on value investments that present strong intrinsic fundamentals supported by sustainable long cash flow certainty.”
Specialists in Commercial Investment, we continue to act on behalf of acquisitive clients. Contact Richard Wolfryd (+44 (0)7711 822 588) or Barry Marshall (+44 (0)7968 037 643) to discuss your requirements.
Original article link to React News can be accessed here: https://bit.ly/3h9fG16