12 C
West Bridgford
Sunday, October 13, 2019

NG hails strong industrial market after 61,000 sq ft double deal

PUBLISHED:

Commercial property specialists NG Chartered Surveyors have brokered a deal to sell two prime industrial units totalling 61,000 sq ft.

Acting on behalf of a private vendor, Sunny Landa, director at NG, sold Units 1 and 2 Birch Park, Park Lodge Road in Giltbrook, Nottingham to Pemberstone.

banner ad

The deal resulted in a 6.5% yield for the vendor.

Both units are let to a subsidiary of Travis Perkins until 2028 following the 2008 acquisition of the original business, Birchwood Products, which had initially constructed the buildings for its own occupation.

Sunny said: “This deals goes to show that, yet again, industrial property continues to be the most valuable on the market. While office and retail have fluctuated, the £5-10m industrial asset sector has proved to be incredibly popular and take-up and yields continue to be strong.”

Paul Hinchliffe of Nelsons advised the vendor. Tim Matthews, Chief Executive of Birmingham-based real estate asset management company Blue Marble advised Pemberston. Andrew Price of Birmingham based Franck-Steier Price advised Blue Marble. David Grove of FBC Manby Bowdler advised the buyer.

Paul Hinchliffe, associate and solicitor in Nelsons’ commercial property team, said: “I’ve personally been working with NG since I joined Nelsons over three years ago so, given the long-standing relationship, it has been great to get this deal – the biggest we’ve done together – wrapped up to the seller’s satisfaction.”

GET DAILY NEWS UPDATES BY EMAIL

Get all the day's stories and events from The Wire delivered in ONE email every day

21,985FansLike
14,719FollowersFollow
24,094FollowersFollow
279SubscribersSign Up

MORE BUSINESS NEWS

TOP STORIES