Spire Group buys trade park for £2.56m

Spire Group has bought a 26,323 sq ft trade park in Blackpool from Columbia Threadneedle for £2.56m, reflecting a net initial yield of 7%.
 
Blackpool Trade Park is a modern multi-let trade park with prominent main road frontage. The property is fully let to major trade park covenants including Halfords, Topps Tiles, Euro Car Parts and Screwfix.
 
Mike Pochin, surveyor at Knight Frank which acted on behalf of the purchaser, said: “We moved quickly to secure this highly prominent multi-let trade park on behalf of our client. The asset offers secure income, let to a number of national covenants, whilst there are opportunities to enhance value through lease re-gears with existing tenants.”
 
Columbia Threadneedle was advised by Jones Realty.