Acting on behalf of Commercial Estates Group, the Bristol investment team of Knight Frank has acquired four multi-let industrial estates from industrial specialist SEGRO in a £26m deal.
The Galahad portfolio, which includes Pucklechurch Trading Estate in Bristol, as well as three other sites in the Midlands and North West, totals 875,000 sq ft and was bought for a yield of 13.40%.
Vendor SEGRO was advised by CBRE.
Steve Oades, head of Knight Frank’s Bristol office, led the team that secured the acquisition. He said; “We are delighted to have advised CEG on this purchase and we see plenty of scope to add further value through active management. “
Knight Frank has also been retained by CEG to advise on the Pucklechurch estate, which comprises 31 production and warehouse units ranging from 1,900 to 60,000 sq ft.
