Nimbus Park & 10/10a Foster Avenue, Dunstable, LU5 5WZ
Atlas Real Estate has recently completed the sale of a prime multi-let industrial estate and distribution unit on behalf of Pears Property.
The properties are located within the established industrial area of Woodside Estate, Dunstable. Nimbus Park is a modern 8 unit industrial estate totalling 139,103 sq.ft and 10/10a Foster Avenue is a modern semi-detached unit of 18,639 sq.ft.
The properties are fully let producing a total income of £1,133,484 per annum with a WAULT to breaks of 4.96 years and 7.54 years to expiries.
The properties were sold for £27,950,000 which reflected a net initial yield of 3.80%. Stonehill Partners represented the purchaser, Orchard Street.
Ben Blackwall, Director at Atlas Real Estate comments ‘The sale was hotly contested with over 10 offers received highlighting the demand for prime multi-let industrial investments. The sale price exceeded the original asking price by 32% securing a fantastic result for Pears Property.’