A leading charity which oversees pet welfare in Devon and Cornwall has added to its investment portfolio by acquiring industrial units located within the Newnham Industrial Estate in Plympton, Plymouth.
Plymouth commercial property specialist, Glenn Kelly from Bruton Knowles, helped broker the deal which sees the Gerrick Rose Animal Trust acquire the freehold interest in units A-F Huxley Close within the estate for a sum in excess of £500,000.
The off-market deal completed towards the end of last year, and is a significant acquisition for the Trust.
Tony Cusack, partner of GA Solicitors and managing director of the Gerrick Rose Animal Trust, said: “The acquisition of the units in Huxley Close has meant the addition of a considerable asset to the Trust’s growing portfolio.
“Bruton Knowles advised us from the outset and brokered the deal in a timely and efficient manner. The charity was able to secure an off-market transaction, allowing us to secure a good deal in line with the Trust’s investment strategy.”
Glenn Kelly said: “The property is occupied by a number of well-known tenants including St Luke’s Hospice and Kier Western Plc, who have remained in occupation for a number of years.”
The property has a prominent frontage onto busy Newnham Road (B3417), with Huxley Close providing access to this established and popular estate. This location will appeal strongly to the rental market.
The tenant profile and income stream associated with the investment offers Gerrick Rose Animal Trust a good return and this, combined with a strategic asset management plan, will add value to their assets in the medium term.
Other occupiers within Newnham Industrial Estate include St Luke’s, Brandon Hire Plc, Chaplin’s Superstore, ATS Euromaster and Perry’s Builders Merchants.
Handily situated around five miles to the east of Plymouth’s city centre, the estate offers easy access to the A38 Devon expressway, which links Plymouth to Exeter and the national motorway network.
