Blue Marble Properties has sold its client’s property, Pinnacle in Doncaster, to the Coalfields Regeneration Trust, the only organisation dedicated towards supporting the coalfields communities to help themselves.
The Coalfields Regeneration Trust secured the highly desirable property in the face of stiff competition from a raft of potential investors.
The 50,000 sq ft high quality warehouse was built in 2006 and is located on the Denaby Main Industrial Estate near Doncaster.
Shaun O’Brien, Investment Director at The Coalfields Regeneration Trust said: “We were challenged by the government to find new ways in which, as a charity and social enterprise, we could become self-financing. Investment in property has allowed us to address this crucial objective and we are pleased to add Pinnacle to our portfolio.”
Blue Marble Properties initially identified and acquired the property in December 2012 for its clients, a joint venture between Pemberstone and Bridges Sustainable Property Fund.
The warehouse, which is occupied by Senior Architectural Systems on a 15 year lease from 2007, was originally built as a speculative unit and consequently benefits from all the attributes occupiers typically look for in a building.
After a relatively short ownership period, and in view of the resurgence in demand for commercial investment property, Blue Marble Properties advised its clients in respect of a potential sale and the investment was put on the market in July by the Leeds office of CBRE who sought offers in excess of £2,435,000.
In spite of the traditionally quiet summer period, the property attracted significant interest from a range of investors and the sale to The Coalfields Regeneration Trust was agreed.
Tim Matthews, CEO of Blue Marble Properties said “Pinnacle has been a very high performing property during the period of our client’s ownership and I’m sure will continue to generate excellent returns for The Coalfields Regeneration Trust.”
Guy Bowden, Acquisitions Director of Bridges Sustainable Property Fund said: “It has been a pleasure to work with Blue Marble Properties again, who handled both the acquisition and disposal process in a quick and efficient manner.”
