THE SANGENIC UNIT

Investment News

The property comprises a detached warehouse facility constructed approximately 12 years ago totalling circa 21,700 sq ft together with excellent goods servicing yard and car parking to the front.

 

The property was let in its entirety to Sangenic International Ltd as part of the Mayborne Group with a lease expiring in 2019 with a current rent of £97,341.40 pa and subject to review again in 2015.

 

The property was offered for sale by David Findlay of Jones Lang LaSalle. Following a relatively short marketing period terms were agreed after competitive bidding at a figure of £1,055,000 to show an initial yield of 8.69%.

 

Noel Roper commenting:-

 

“On behalf of this specific client we have been looking for a considerable amount of time to find a suitable industrial investment within the immediate vicinity of their operational headquarters located not far from Mansfield.

 

We have looked at a lot of other properties on Hamilton Way which we recognise as being of strategic importance with the opening of the Mansfield inner relief road (MARR) giving early access to Junction 28 of the M1 motorway”.

 

David Findlay acting on behalf of the vendor, Orchard Developments (Holdings) Plc, commented:- ‘’ We were pleased with the response to the marketing of this opportunity and received multiple bids on it, before selecting the eventual purchaser, who performed well and in accordance with agreed timescales.’’

 

END

 

Noel D. Roper                        

Date:  30 January 2012

Tel: 0115 8411132/Email: noel@fhp.co.uk