Accrington industrial site sold in £3m deal
Burnley-based Jetglobal Limited has sold an Accrington industrial property to a private property company in a deal worth £3.1m.
Existing occupier, Spa Web, which manufactures lifting and load securing products, will continue to be based at the site, having signed a 15-year lease less than a year ago.
The 53,000 sq ft property is situated on the Altham Industrial Estate.
Commercial property specialist Bromwich Hardy, based in Coventry, helped conclude the deal on behalf of the private buyer, which acquired four units at a site in Catterick, Yorkshire, for a similar amount just days before.
Tom Bromwich, founding partner at Bromwich Hard, said the latest deal further highlighted the value of attractive investment opportunities in the current market: “This is a modern site in an excellent location and with a first class tenant who has been in occupation for more than 30 years,” he said
“It has benefited from a high quality and highly specified 20,000 sq ft extension in the last year. The net initial yield is likely to be in the region of 6.3 per cent and it ticks all the right boxes in terms of its investment appeal.”
He added: “It is yet more evidence that the right properties are continuing to find a market, despite the pandemic. We have a number of other investment deals in the pipeline and it continues to be a sector of the market which is showing strength in the face of the current difficulties.”
Michael Cavannagh, of Trevor Dawson, acted as selling agent for Jetglobal Limited.
