General

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

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.

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 Ltd, 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.”

Pictured with Sunny is Paul Hinchliffe of Nelsons Solicitors who handled the legals on behalf of the Vendor.