In-site Property Solutions have sold their industrial site at Queenslie, East Glasgow for £2.425m reflecting a net initial yield of 7.9%.
Burntbroom Court, comprising a 1.48 Hectare industrial estate of 9 units extending to 47,430 sq ft, has been sold to Tilstone Glasgow Limited. The site which is situated in the heart of Queenslie Industrial Estate was sold with all units fully let.
The deal marks a successful exit from Queenslie for In-site, which acquired the site in May 2013 for a NIY of 13.5%.
Alex Boyle, managing director, In-site Property Solutions, said: “It has been a great buy. We have been able to move rents on and bring in some good occupiers. We are now looking to acquire sites with added value potential. We are currently considering various acquisitions in Yorkshire and are always keen to hear of more opportunities”.
Gilfillan Property Services acted as agent for the sale of the unit on behalf of In-site.
In-site Property Solutions, based in Bramham, West Yorkshire, have sites in Yorkshire and the North East of England as well as across the central belt of Scotland.