£2m industrial investment sold in Bodmin

Powell Lloyd have recently sold an industrial unit in Bodmin, Cornwall on behalf of a national landlord for £1.96m.

Units 11 & 11A Callywithgate Industrial Estate was sold on behalf national property investment company, Richard Hayward Properties. The warehouses comprise a total of 58,293 sq ft with the majority of the accommodation let to Royal Mail Group Ltd on a 15 year term from May 2013 with fixed rental increases. Bodmin is a regional hub for Parcelforce. The remainder of the space is let to Callywith Centre, a multi-activity centre providing gymnastics and trampolining sessions as well as fitness classes. The centre also includes the Callywith School of Dance.

James Sanders of Powell Lloyd commented ‘This investment sale shows the strong investor demand for this type of product and the improvement within the commercial property investment market across the South West. Our client let the units well and with the security of the income from an established tenant such as The Royal Mail, as well as from Callywith Centre, this opportunity appealed to both national and local investors’.

The property was purchased by a private investor.