Cumbria industrial site changes hands in £3.75m acquisition
On-site Property Solutions, advised by Savills, has acquired the freehold of Lot 2, Mainland Industrial Estate, a multi-let 130,742 sq ft industrial site in Kendal, Cumbria, for £3.75m.
The site includes 13 units ranging in size from 1,300 sq ft to 30,500 sq ft and includes two open storage sites.
Current tenants include James Cropper 3D Products, J T Leyland and Pelta Medical Papers, and has an estimated rental value of £652,275 per annum.
Nick Bramwell, Associate, Industrial & Logistics, Savills, said: “We’re pleased to have represented On-site to secure the purchase of Lot 2, which is a great addition to their current portfolio.
“The site is positioned in an excellnt location and is an attractive high-yielding multi-let industrial estate with good reversionary potential.”
Alex Boyle, Managing Director, On-site Property Solutions Ltd, said: “We set up On-site a few years ago and we’ve got assets in Leeds and Teeside, so this site is a great addition to our current properties. We look forward to working with the existing occupiers, and welcoming new tenants.”
Lot 2, Mainland Industrial Estate, is located 2.5 miles from junction 36 of the M6 motorway, and is just one mile away from the east of Milnthorpe and 10 miles from the south of Kendal.
