Branded Garden Products, 1-7 Bluestem Road, Ransomes Europark, Ipswich, IP3 9UH
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Atlas Real Estate have recently acted for a property company on the sale of 1-7 Bluestem Road, Ransomes Europark, Ipswich.
The property is located on Randomes Europark, which is the established commercial location in the town. The property is prominently situated at the entrance to the park on Bluestem Road, which is two miles to the southeast of the town and 0.25 miles to the northwest of A14 dual carriageway.
The property comprises three industrial units extending to 49,195 sq. ft which were substantially refurbished by the vendor in 2022. The property is let to branded Garden Products Ltd on a new 10-year lease expiring 30 May 2032. There is a tenant break option on expiry of 5th year. The current rent is £368,500 per annum reflecting a low rent £7.49 per sq. ft
The property sold for £5,500,000 reflecting a net initial yield of 6.28% and a capital value of £111 per sq. ft.
The purchaser was Cube Asset Management, represented by M1 Agency.
