Units 1-3, 73-75 Bilton Way & 83 Bilton Way, Enfield, EN3 7ER
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Atlas Real Estate has recently advised IM Properties on the sale of a freehold 3 unit prime distribution park on Bilton Way, Enfield.
The property totals 135,700 sq.ft together with an open storage site totalling 1.15 acres and is let to 3 tenants. Having acquired the property in 2019 commenting on the deal, Andrew Franck-Steier said “We were extremely pleased to be asked to selectively market the asset on a joint basis with ACRE Capital Real Estate and delighted to reach a successful conclusion following the implementation of the asset management plan.”
The property was sold for £50,500,000 which reflects a net initial yield of 3.86% based off a total rental income including top up of £2,079,129 per annum.
Atlas RE & Acre Capital Real Estate acted for the vendor IM Properties and KIMMRE acted for the purchaser Tritax Big box REIT.
