Wholesale District, Meadow Lane, Nottingham, NG2 3JJ
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Acquisition of a multi let industrial estate on the edge of Nottingham city centre on behalf of Industrials UK.
The estate comprised 33 units totalling 35,955 sqf on a site of about 4 acres. The estate was original occupied by the city’s fruit & veg wholesalers.
The estates produced an overall rental income of circa £218,800 per annum and a net income of circa £210,000, allowing for current service charge shortfalls.
The property was purchased for £2,040,000 which represents a net initial yield of 9.74% based on the current net rental figure and assuming full costs of purchase of 5.8%.
Steadman Brierley acted for the vendor.
veg wholesalers.
The estates produced an overall rental income of circa £218,800 per annum and a net income of circa £210,000, allowing for current service charge shortfalls.
The property was purchased for £2,04,000which represents a net initial yield of 9.74% based on the current net rental figure and assuming full costs of purchase of 5.8%.
Steadman Brierley acted for the vendor.
