Connect Property North East (CPNE) have completed a trio of investment acquisitions on behalf of private clients.
The purchase of a parade of industrial units on the Gallowfields Industrial Estate Richmond started the buying spree. The multi let units at Racecourse Court were acquired from Richmondshire District Council with units leased to Gilpin Arts, Calibre Metrics and Richmond Classic Motorcycle Restoration with further two units under offer and one remaining To Let at 500 sq ft unit available via CPNE. The attraction of the asset was a 10% return.
An acquisition of Ainscough Crane’s facility in Stockton extending to approximately 8 acres with nearly 30,000 sq ft of buildings located on site represented a net initial yield of 7.5% for the purchaser with a secure 7+ year income. This strategic site for the recognisable yellow crane business visible from the A66 between Teesside Park and Teesdale Business Park services and maintains the fleet’s vehicles for the Northern region.
Completing the run, CPNE acquired directly from developers a new retail parade in Shipley let to The Cooperative Convenience Store, Harry Ramsdens and Coral bookmakers representing good quality, secure long term income.
Andrew Wilkinson, Director at CPNE commented, “The investment market has seen renewed strength and confidence over the last 6 months following some bumpy market conditions across the northern markets.” The range of properties acquired and the type of income they offer are varied and we have been able to target the correct assets to meet the requirements and characteristics of our client’s needs. We are seeing strong competition return to the buying process in the case of Ainscough Cranes and Racecourse Court which were acquired through best bids and offer the opportunity to unlock future development potential further down the line.
For further information contact Andrew Wilkinson at Connect Property North East on 01642 602001 or www.cpne.co.uk firstname.lastname@example.org