Industrial unit changes hands in £2.17m deal

An industrial unit in Staffordshire has changed hands in a £2.17m deal.

Burley Browne negotiated terms on behalf of a private investor client for the industrial investment sale of 38 Amber Close, Amington, Tamworth, to a property investment company.

The industrial/warehouse property extends to 32,000 sq ft and is subject to an occupational lease to Strong’s Plastics, with terms agreed for the sale reflecting a net initial yield of approximately 8% based on the headline rent achieved. Set behind a secure gated entrance, it offers parking for 37 cars and a yard.

Ben Nicholson, senior associate director at Burley Browne, said: “Burley Browne has had an exciting start to the year with this deal, which generated competing bids, being the second multi-million pound industrial investment sale already. It reinforces the high level of demand and interest generated for this type of opportunity.”