Acting on behalf of M7 Real Estate, the capital markets team of Knight Frank in Bristol has sold Horcott Industrial Estate in Gloucestershire for £3,525,000.
The modern multi-let industrial estate comprises 27 units in six terraces totalling 55,803 sq ft. The estate was acquired by IO Group, which was represented by Gerald Eve. The sale represents a net initial yield of 7.96%.
Nick Thurston, associate at Knight Frank, said: “There is currently strong investor appetite for multi-let industrial investments. The local industrial supply in Cirencester and Swindon is enjoying good levels of occupational demand, which has a positive impact on Horcott Industrial Estate. This was one of the factors in the success of the sale, which attracted a number of bidders.”
