Warehouse sold in £6.4m deal

A Northants warehouse has been sold in a deal worth £6.4m.

The 76,840 sq ft single storey warehouse, which sits on a site of 6.6 acres, was bought by the MGTS St Johns High Income Property Fund, with St Johns Asset Management, part of the AFH Financial group, acting in their capacity as the appointed investment advisers to the Fund.

Commercial Property Partners (CPP) acted for the buy, while Northampton-based TDB Real Estate acted for the vendor.

Currently let to Prestige & Homeseeker Park and Leisure Homes Ltd, the manufacturer of park homes and leisure lodges, the warehouse is located on the Express Park on Shipton Way.

Stuart Waite, partner at CPP, said: “We are delighted to have acquired this modern facility for our clients, which meets with their investment criteria given the property’s solid fundamentals and clear scope for future rental growth.

Richard Bryan of AFH said: “The Fund continues to grow in size, and we welcome this latest addition which was completed within four weeks of receipt of the full legal pack. We remain active and hope to announce further acquisitions in the near future”.

Chris Drummond TDB Real Estate added: “This good quality investment opportunity was a relatively rare commodity in the current market, and it was always therefore going to create significant interest, which proverd to be the case. AFH and CPP were a pleasure to deal with throughout the transaction and fulfilled all of their commitments and obligations within the timescale agreed.”