Distribution units sold in off-market deal

Two distribution units in Nottingham have been bought in an off-market deal.

The 61,000 sq ft properties, at Birch Park in Giltbrook, were acquired by Blue Marble, acting on behalf of private office investor Pemberstone.

They are currently let to a subsidiary of Travis Perkins until 2028.

The value of the deal is undisclosed but it said to reflect a net initial yield of 6.5%.

Blue Marble chief executive Tim Matthews expects the properties “to be a strong performer within our client’s portfolio”.

He said: “The purchase is particularly satisfying given the strong demand prevailing in the commercial property investment market, particularly for good quality, well located, industrial and distribution units such as those at Birch Park.”

This latest acquisition takes the total investment value of properties acquired by Blue Marble so far in 2019 to nearly £10m.

Andrew Price of Birmingham based Franck-Steier Price advised Blue Marble and Pemberstone. NG Chartered Surveyors acted for the vendor.

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