Blue Marble sees 300% return on sale of distribution unit
BIRMINGHAM-based real estate firm Blue Marble Asset Management has sold its investment in a 40,000 sq ft distribution warehouse in the North East.
Acting on behalf of the Pemberstone Group, Blue Marble has sold the freehold of 4 Traynor Way, Whitehouse Business Park, Peterlee to a private investment trust.
The deal follows a four-year ownership of the unit, during which the property has realised an IRR (internal rate of return) of 35% and a total return of almost 300%.
The current tenant is GT Emissions Systems, which designs and manufactures exhaust gas control valves for on and off highway vehicles. It is part of the GT Group which was acquired by the German Knorr-Bremse Group earlier this month.
4 Traynor Way was one of the first investment properties acquired by Blue Marble in 2011, shortly after the company was founded by chief executive Tim Matthews.
He said: “This sale is the culmination of an extremely strong investment performance from a high quality property selected for its good property fundamentals.
“Pro-active management to a pre-agreed strategy for this property has delivered an outstanding rate of return for our client, and in a nutshell this is what Blue Marble is all about.”
Blue Marble presently has more than £60m of property assets under management. It works for a select range of clients including investment businesses, high net worth individuals, trusts and family offices.
