The National Capital Markets team at Colliers International in Bristol has sold the freehold interest in a group of five industrial units in Clevedon for £1.75m.
Acting on behalf of The Conygar Investment Company PLC, Colliers International has sold Units 5A, B, C and 6A & B at Tweed Road Industrial Estate in Clevedon to a private investor represented by Deloitte UK.
The multi-let property comprises five units housed within two industrial, terraced warehouses totalling 30,800 sq ft and producing an income of circa £147,000 per annum.
The purchase reflects a net initial yield of 7.95 per cent and a capital value per sq ft of £56.83.
Richard Coombs, Director of National Investment at the Bristol office of Colliers International, said: “Demand for industrial investments in established locations continues to be popular among a range of buyers.
“There was strong interest in the Tweed Road units from property companies, high net worth investors and some managed funds.”
He added: “Demand for industrial investments are as high now as any time in the last 18 months, and despite the usual slowdown in volume of transactions over the summer break we are predicting a strong fourth quarter.”