Centurion Court, Brick Close, Kiln Farm, Milton Keynes, MK11 3JB
Acting on behalf of Clipstone Industrial Unit Trust, Atlas Real Estate has recently completed the sale of the above freehold multi let industrial estate.
The property comprises a modern L shaped terrace of 10 units constructed in the early 2000’s. Each unit has offices at first floor and an eaves height of 5m. There is a shared service yard to the rear of each unit and car parking to the front.
The estate totals 24,163 sq.ft on a site of 2.68 acres with a low site density of 21%.
The estate was fully let at the time of disposal producing a total rental income of £165,734 per annum.
The sale price was £2,450,000 which represents a net initial yield of 6.36%, after normal purchaser’s costs.
Commenting on the sale Andrew Franck-Steier said “We are delighted to have achieved this price for our client’s Clipstone, which is way in excess of the original quoting price of £2,225,000.’