Success Story
Acting on behalf of a private investor client, TDB Real Estate has negotiated the forward funding and acquisition of a new trade park on Hermitage Lane, Mansfield developed by Tungsten. Franck-Steier Price acted for Tungsten in the funding and sale.
The investment comprises three units totalling circa 12,000 sq ft let to Edmundson Electrical and Tool Station. Unit 2 was not let at the time that contracts were exchanged, but TDB Real Estate negotiated and agreed terms with the independent plumber’s merchant Robert Pochin. Contracts were exchanged on this letting prior to completion.
The investment was acquired for £1.4m and the total passing rent at the time of completion equated to £90,625, representing a net initial yield of 6.1% (based on purchaser’s costs at 6.05%).
Over the last 12 months TDB real estate have been involved in the sale or acquisition of close to £40,000,000 of commercial property investments. For national investment acquisition or disposal advice, please contact the TDB Real Estate Team – 01604 604020.
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