Knight Frank’s Capital Markets team has sold Unit 1, Quedgeley West Business Park in Gloucester for £8,020,000.
On behalf of vendors Royal London, Knight Frank acted in the long leasehold sale of the modern 95,864 sq ft distribution unit to Portsmouth City Council in a transaction representing a net initial yield of 5.92%. DTRE advised the purchaser.
Quedgeley West Business Park comprises a prime, 32 acre industrial park four miles south west of Gloucester, adjacent to the A38 dual carriageway and close to Junction 12 of the M5.
The unit is currently let to Schlumberger Oilfield UK Plc at a rent of £502,331 per annum (£5.24 psf).
