INNES England has completed the sale of a high quality trade counter warehouse investment opportunity on Osmaston Park Road in Derby on behalf of Sainsbury’s to a private investor.
Exchange Point, situated in a prominent position just off Derby’s outer ring road and next to Sainsbury’s, B&Q and McDonalds, was offered for sale in late 2014 and generated significant levels of interest.
The estate consists of three modern trade counter units – two of which are income producing and let to TF Pump Supplies & Services and national firm Travis Perkins for its Tile Giant brand, both totalling 6,625 sq ft. A third unit, totalling 8,500 sq ft, was sold on a long leasehold basis in 2009 to Excel Process Systems Ltd.
Innes England acted on behalf of Ramheath Properties, a wholly-owned subsidiary of supermarket giant Sainsbury's on the sale, which achieved a seven-figure sum following a best-bids process.
Stuart Waite, associate director at Innes England’s Derby office, said: “We are delighted to have concluded the sale of this high quality trade warehouse estate on behalf of our client.
“The industrial, logistics and trade warehouse sectors are performing strongly and this proved an appealing proposition to a number of investors, which is unsurprising given the quality of the location, product and strong tenant mix.”
Exchange Point was purchased by a private investor based in Barnsley, South Yorkshire, advised by Knight Frank.
Nick Wales, partner in Knight Frank’s Sheffield office, commented: “My client is delighted to have acquired this high quality asset which is a perfect fit for his portfolio.”