A strategically positioned distribution warehouse near St Austell, in Cornwall, has been acquired by an investor in a £1.75 million deal.
The property is located on the Victoria Business Park, which has immediate access to the Roche Junction of the A30 trunk road, and is let to DPD Group UK Ltd until November 2022. It consists of a 15,997 sq ft warehouse, plus ground floor offices and ancillary totalling 1,906 sq ft and a first floor office and ancillary of 1,432 sq ft.
The property was sold by Colliers International on behalf of a private client to a private trust client of Savills.
Richard Coombs, Director in the UK National Investment team in the Bristol office of Colliers International, said the £1.75 million purchase reflected a net initial yield of 7.5 per cent.
“The growth of online retail has resulted in increased demand for well-located distribution warehouses, and this asset is particularly well-placed.”
