Property investor swoops for Worcestershire trading estate
The Ikon Trading Estate in Hartlebury has been snapped up by Gemini Property, to add its its ‘ever-expanding portfolio’.
The 14.6-acre estate comprises 160,000 sq ft of industrial and warehouse accommodation with 28 units ranging from 605 sq ft to 41,432 sq ft. It currently produces a combined rental income of £795,000 per annum.
A 1.6-acre development plot also has planning permission for a further industrial scheme.
Michael Johnson and Co advised Gemini Property on the deal. AP Investment acted for the Vendor.
Gregg Morgan, Gemini’s property director commented: “It was a pleasure working with Tom to add this site to our ever-expanding portfolio. Although we own similar sites from Scotland to Cornwall and everything in between, Ikon is perfectly positioned on our doorstep and presents immediate opportunities to add value in the short term. The team and I are looking forward to making this a ‘Gemini’ site.”
Tim Hopkins, CEO of Gemini Group said: “We were able to act quickly being experienced and owning many of these sites, and purchasing cash gives surety to the seller. Thank you to Gregg and his team for their expertise and to Tom at Michael Johnson and Co who we will continue to work alongside at Ikon Trading Estate.”
