Property firm doubles investment through sale of 21,000 sq ft unit

Sandyford Properties has recently disposed of a unit on Sun Street, Stoke on Trent which is currently let on a ten year lease to Ninja Warrior UK.

The commercial property specialist has achieved an IRR in excess of 20% on the sale of the 21,000 sq ft unit, with plans to recycle the capital into further site acquisitions and refurbishments.

The property was acquired by commercial property investor The Southwark Group of Companies.

Managing director Paul Brindley said: “This sale allows us to continue to expand our portfolio of multi-let industrial estates which are core to our service. We’ve already begun the process of acquiring some new properties which are currently in legals and should hopefully be complete in two to three months.”

Sandyford Properties purchased the Sun Street unit in 2017 which, at the time, was unoccupied.

Since then, with the help and support of Sandyford Properties, Ninja Warrior has made the unit home.

Sandyford Properties was advised in the sale by John Burrows and Joe Sinclair of B8 Real Estate and Claire Cosgrove at Hill Dickinson.

The purchaser was advised by Ollie Rowe at Avison Young.