Toray Advanced Composites, Amber Drive, Langley Mill, Nottingham, NG16 4BP
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Atlas Real Estate has recently completed the acquisition of this modern distribution warehouse investment on behalf of a private investor.
The property comprises a range of buildings including substantially refurbished workshops and offices along with two new inter-connected manufacturing / warehouse buildings developed in 2010 and 2016 respectively.
The total gross internal floor area is 53,235 sq.ft sitting on a site of 2.51 acres.
The property is let to TenCate Advanced Composites Ltd for a term of 10 years from 17th April 2016 at a current passing rental of £292,500 per annum (£5.50 per sq.ft).
The purchase price was £3,920,000 which reflects a net initial yield of 7.00%.
Andrew Franck-Steier who acted for the purchaser comments, “we were delighted to acquire the property on behalf of a new client to the business in a highly competitive industrial investment market.”
The vendor was represented by Nick Wales of Knight Frank Sheffield office.
