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, 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.”
Paul Hinchliffe of Nelsons advised the vendor. Tim Matthews, Chief Executive of Birmingham-based real estate asset management company Blue Marble advised Pemberston. Andrew Price of Birmingham based Franck-Steier Price advised Blue Marble. David Grove of FBC Manby Bowdler advised the buyer.
Paul Hinchliffe, associate and solicitor in Nelsons’ commercial property team, said: “I’ve personally been working with NG since I joined Nelsons over three years ago so, given the long-standing relationship, it has been great to get this deal – the biggest we’ve done together – wrapped up to the seller’s satisfaction.”