CRT Property Investments Ltd, a wholly owned subsidiary of the Coalfields Regeneration Trust, has added to its portfolio of commercial properties with the acquisition of the freehold of a modern office building at Robin Hood Airport, Doncaster.
With the support of real estate asset management company, Blue Marble Asset Management (Blue Marble), CRT Property Investments Ltd has bought a 10,413 sq ft office building on First Avenue, Robin Hood Airport, Doncaster, DN9 3RH, South Yorkshire, in an off-market deal, at a net initial yield of 11.51%. Knight Frank’s Sheffield office advised CRT and Blue Marble on the purchase.
The two storey office building, constructed in 2008, is let on a long term lease to Redline Aviation Security Limited as its headquarters building and national training centre. The company also has offices at Heathrow, Paris Charles De Gaulle and Paris Orly airports.
Property Investment and Development Director for CRT Property Investments Ltd, Shaun O’Brien says: “This is an excellent investment for us, providing good long term income, in the former coalfields area. The location at Robin Hood Airport is key for our tenant’s business. Once again, I would like to thank Tim Matthews and the Blue Marble team for their assistance in the acquisition of the very highest quality investment opportunity.”
Tim Matthews, Chief Executive of Blue Marble Asset Management, says: “This is a prime quality building, in a good location, with a good tenant, secured for our client at an excellent yield, in an off market deal.
“As part of a very clear business plan we will now asset manage this investment for our client to maximise its performance over the coming months and years. It’s exactly what Blue Marble is about.”
Nick Wales, Partner at Knight Frank’s Sheffield office says: “We were pleased to have spotted this off market opportunity for CRT and Blue Marble.”
CRT Property Investments Ltd is a subsidiary of the Coalfields Regeneration Trust, the only organisation dedicated to supporting former mining towns and villages throughout the UK.