Property overview

Wholesale District, Meadow Lane, Nottingham, NG2 3JJ

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£2,040,000
Jan 2016

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.

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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.

St Pauls Office Investments Retail & Retail Warehousing investments