On behalf of Threadneedle UK Property Unit Trust, Cooper Rose Real Estate has acquired two industrial unit investments on South Lancs Industrial Estate, Wigan for a total price of £5,815,000, reflecting a net initial yield of 12.49%.
Unit 2 comprises a detached 1970s industrial building providing 29,605 sq ft on a site of 1.67 acres giving a site density of approximately 40% plus an additional development site of approximately 1.725 acres. The unit is let to Chemviron Carbon Limited for a term of five years from 29 September 2012 (expires 28 September 2017) at an initial rent of £85,000 per annum (£2.90 per sq ft).
Unit 7 comprises a detached 1980s industrial building comprising 213,437 sq ft on a site of approximately 10 acres giving a site density of approximately 48%. The unit is let to SCA Hygiene Products UK Limited on a new lease for a term of five years, with a tenant’s option to break at the end of the third year, at an initial rent of £683,530 per annum (£3.20 per sq ft).
Contact Giles Cooper or Ben Rose.