Sales of two industrial investments in Derby and Alfreton have been secured highlighting a healthy level of demand in the sector.
Prime Industrial Park in Derby and Ecclesbourne Park in Alfreton, are assets acquired by a vehicle managed by M7 Real Estate LLP, a specialist investor and asset manager of multi-let industrial property.
M7 offers expert knowledge in the industrial real estate markets, in addition to investment management, finance and information management services with a portfolio of over 150 assets across the whole of the UK.
Matthew Cheyne at M7 said: “These latest acquisitions represented an attractive investment opportunity. Through proactive asset management, I believe that the sites will continue be popular trading locations.”
Innes England has since been instructed by M7 as sole letting agent on the two industrial estates.
Tim Richardson of Innes England said: “Across the East Midlands region, prime yields in the investment sector remained stable in Nottingham and Derby in 2012. It would appear that the sector is holding up well, which is reflected by these latest sales.
“One of the key attractions to investors, particularly in the multi-let locations is the ability to manage the asset. Our priority will now be to fill the vacant units and work with M7 who will bring their expertise to the management of the estates to make the most of the investment potential.”
Prime Industrial Park comprises a multi let industrial estate of 11 units totalling 57,399 sq ft and is located on Osmaston Road, midway between the inner and outer ring roads on the south side of the Derby. There are currently three units available between 3,200 sq ft and 6,729 sq ft.
Ecclesbourne Park forms part of the Cotes Park estate close to the A38 dual carriageway and only two miles from junction 28 of the M1 motorway. There are 13 units totalling 74,568 sq ft with currently only one vacant unit of 6,380 sq ft.
The units are currently being refurbished by the new owner and are available to let upon flexible new lease terms.