Sale of Multi-let Industrial Investment in Essex
Friday, 16 December 2011
DEJ Levy, on behalf of Broomford Vange, has sold a
multi-let
industrial estate at Vange Wharf, Wharf Lane, Essex to St
Modwen
plc for £3.475million, reflecting a net initial yield of
10%.
The 7.54 acre-site comprises 85,566 sqft of warehouses, held on
a
variety of lease lengths, and 81,859 sqft of yardage and produces
a
total income of £349,574 pa.
DE&J Levy industrial director Jeremy Grundy comments: "The
sale of
this estate highlights the strong appetite for well located south
east
secondary industrial stock with strong reversionary
characteristics."
