Units 1-6 Dawson Road and 1-7 Clarke Road, Milton Keynes, MK1 1LH
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£3,307,000
Jun 2011
Acquisition of a multi let industrial estate at Mount Farm, opposite Stadium MK. The property comprises two adjoining estates and was purchased for LIPP 1 Sarl.
The accommodation comprised 23 units in total and extended to 103,175 sqft. Units ranged from 1,754 sqft upto 7,200 sqft. The estate had 13 tenants including Wilts and Parcelpoint. The average unexpired terms on the occupied units was 2.5 years. 6 units were vacant at the time of purchase. The combined rental from the property was just under £370,000 per annum.
The property was purchased for £3,307,000 which represents a net initial yield of 10.57%, assuming full costs of purchase of 5.78%.
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