Powell Lloyd have recently sold a multi-let industrial estate in Abergavenny on behalf of a national industrial landlord.
Mill Street Industrial Estate was sold on behalf of the UK and Continental European industrial property investment company, Hansteen Holdings PLC. The estate comprises 23 units providing a total of 39,684 sq ft of industrial accommodation. The investment is let to a variety of national and local tenants including Wolseley UK Ltd and Countryside Council for Wales. The estate provides Abergavenny with quality small industrial units very close to the town centre.
James Sanders of Powell Lloyd commented ‘This investment sale shows the strong investor demand for this type of product and the improvement within the commercial property investment market across South Wales.’
Hansteen acquired the property in December 2011, improving the occupancy and income profile through their active asset management approach.
CNC Property Fund Management purchased the estate for £2.56m and were advised by Hutchings and Thomas.
