Investor eyes more industrial deals after £6m estate purchase

Julian Carey, Stenprop
A property group is looking for more sites around Birmingham after agreeing the £6.2m purchase of a Stourbridge industrial estate. Stenprop has bought Gainsborough Trading Estate in an off-market transaction from a private investor. The deal reflects a net initial yield of 9.1%. Julian Carey, Stenprop's property director, said: "We are excited about rolling our Industrials operating platform out in Stourbridge and hope to acquire more estates in the area on the back of it". The estate in Rufford Road has 37 units - of wh... For the full story register now for free or login below...