BW Estate & Crown Works in Weston-super-Mare has been sold by private clients of Alder King in an off-market transaction to private clients of Avison Young at a price reflecting a net initial yield of 9.95%.
The estate comprises 84,563 sq ft of industrial accommodation in a variety of unit sizes on a site measuring 5.8 acres. The property is multi-let to around 50 tenants generating a total net rental income of approximately £509,000 per annum.
Oli Stretton, partner at Alder King commented: “Following a successful period of ownership, achieved through a very active asset management approach, we were delighted to assist our client with the disposal of this asset, enabling them to focus on delivery of their development pipeline.”
Richard Howell, Principal at Avison Young added: “The estate has always had very high occupancy levels, and we look forward to working with our clients to ensure the continued success of what is a very popular and sought after industrial asset.”
Alder King represented the vendor and Avison Young advised the purchasers.