Transaction:
Fleming Close is a multi-let industrial Estate comprising two terraces of 16 units totalling 96,908 sq ft constructed in the mid 1980’s
Price: £4.5m
Net Initial Yield: 7.63%
Success Story
TBD advised Blackrock in respect of lettings, rent reviews, lease renewals and strategic refurbishments.
TDB were also instrumental in moving tenants within the estate to satisfy the occupier’s space requirements and also to add value to the investment.
The estate was subsequently sold by TDB (jointly with Strutt and Parker) at a price of £4.5m equating to a net initial yield of 7.63%.
That price was approx 35% higher than the funds book valuation.
Asset management working at its best!
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