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Acquisition of a portfolio of multi let industrial estates all located on the edge of Birmingham city centre on behalf of Industrials UK.
The four estates comprised 22 units in total and 55,366 sqft. There were two units vacant on acquisition totalling 2,280 sqft.
The estates produced an overall rental income of just over £286,000 per annum.
The portfolio was purchased for £3,225,000 which represents a net initial yield of 8.4%, assuming full costs of purchase of 5.8%.
Harris Lamb acted for the vendor.
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