Industrial sites in £100m portfolio offloaded by Dominvs Group
Two industrial estates in Tameside, Greater Manchester and Blackburn, Lancashire are included in a £100m commercial property portfolio which has been sold by Dominvs Group.
Kayley Industrial Estate in Ashton-under-Lyne – totalling 161,000sq ft – and the 429,000sq ft Walker Park in Blackburn are among the properties.
A private buyer has purchased the portfolio totalling 1.3 million sq ft, which comprises 16 industrial assets and two office schemes. The price reflects a net initial yield of about 6.75%.
London-based Dominvs will retain several significant schemes within its commercial portfolio, including sites in Tunbridge Wells, Wembley and Scotland, in addition to its development pipeline.
The company has projects underway across the residential and hospitality sectors in London, Bath and Oxford. It is also seeking to grow this new portfolio alongside its other portfolios with strategic acquisitions in key UK cities.
A spokesperson for the Ahluwalia family, on behalf of Dominvs Group, said: “We remain acquisitive for development and investment opportunities across our three core sectors: hospitality, residential and commercial and are continuously looking for new sites with investment and development potential across the UK.”
Fineman Ross and CBRE advised Dominvs Group on the sale.