KINGSTON SECURES TAMWORTH INVESTMENT DEAL
Acting on behalf of a London based private investment company, Kingston CP of Lichfield has recently sold unit 2 Mariner on Lichfield Road Industrial Estate in Tamworth to Scolmore International Ltd.
The property is one of a block of the former Swish company complex of buildings which was acquired and then totally refurbished by Wrenbridge back in 2006/7 . Unit 2 is occupied by the Linpac Allibert company Logtek Ltd. who will remain in the property under the existing lease. The building measures 29,825 sq ft and was sold at a yield of 9.25% after purchasers costs.
Andrew Buckman – Director of Kingston – comments “ we have recently completed a series of investment deals on behalf of a range of clients from Local Authorities to individual investors. The appetite for well let commercial property has returned in the last 12-18 months, as purchasers can see future capital as well as rental growth. We are now keen to capitalise on the market interest in commercial investment by offering more properties to the market”.