Meadowbank Court, Eastwood NG16 3SL & 1 Peak Drive, Derby DE24 8EB
Make an enquiry
AP Investment has recently advised on the acquisition of two industrial investments in the East Midlands. Acting on behalf of Rotherhill the purchase comprised of a multi let industrial and office investment in Eastwood and a single let industrial unit in Derby.
Meadowbank Court, Eastwood is a purpose built 1990s industrial estate built in two blocks with an additional detached office. There are four industrial units ranging from 2,500 sq ft to 5,000 sq ft. The overall site extends to 1.6 acres.
The estate was fully let with a WAULT of 5.4 years to expiries and 2 years to breaks. Three of the tenants had been on the estate for over 10 years. Passing rents averaged only £6.89 per sq ft.
1 Peak Drive, Derby is a single let modern industrial unit located off the city’s outer ring road next to a large Sainsburys, B&Q and trade scheme. The 20,400 sq ft unit was built in 2005 and has loading yards at either end elevations and sits on a site of 1.9 acres, providing a site cover of only 25%.
The unit is let to Moreco Property Ltd for a term expiring in September 2028. The current passing rent is only £153,000 (£7.50 per sqft).
The two assets were acquired for £3,700,000 reflecting a blended yield of 7.3%.
Colliers acted for the vendor.
View other sales and recent transactions.
