Property overview

Atlas Real Estate, has successfully advised an institutional client on the disposal of nationwide portfolio of multi-let industrial estates.

The properties were located in Bristol, Gloucester, Huntingdon and Crawley and extended to a total of 266,712 sq.ft across 19 units.

Units 1150 & 1575 Aztec West, Bristol comprises two adjoining units extending to a total of 55,689 sq.ft and is let to two strong covenants with a WAULT of 2.1 years to breaks and 4.1 years to expiries.  The property was sold to a property company represented by Kimmre.

Nexus 2, Bamel Way, Gloucester Business Park comprises a 2008 built, seven unit industrial scheme totalling 74,517 sq.ft with unit sizes ranging from 4,706 to 19,437 sq.ft.  The scheme is let to four tenants with two units vacant producing a total rent of £385,616 per annum.

The Ermine Centre, Hurricane Close, Huntingdon comprises six units built in 1990 and totalling 95,421 sq.ft with individual unit sizes ranging from 12,884 to 17,571 sq.ft.  The scheme is fully let to three tenants producing a total rent of £749,153 per annum.

Runway Park, Church Road, Crawley comprises four units built in 1980s and totalling 41,075 sq.ft with unit sizes ranging from 9,696 to 11,254 sq.ft.  The scheme is fully let producing a total rent of £482,425 sq.ft.

Gloucester, Huntingdon and Crawley were sold as a portfolio to an investor, represented by DTRE.

Ben Blackwall comments ‘The sale of this portfolio concludes the successful disposal of four non core assets for our client.  The portfolio received strong interest highlighting the demand for UK multi-let industrial property, which is underpinned by a severely constrained supply of existing stock, lack of new build development and a high level of occupational demand.’