Property overview

AP Investment has completed the acquisition of a new build trade terrace in Oakham for a private investor client.

Located on Tungsten Park, a new trade scheme to the north of the town, Block 5 comprises a terrace of three industrial units totalling 7,500 sq ft. The wider scheme has attracted the likes of Howdens, Screwfix and Toolstation.

The subject terrace was let on three identical leases to Cakehead Ltd on a 10 year term from Practical Completion in July. The combined rent is £75,000 per annum.

The freehold of the units was acquired for £1,428,000 which showed an initial yield of 4.95%.

Phillips Sutton acted for the developer, Tungsten Properties.

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