Half a million pound investment in Cornish industrial estate shows strength of the county’s Industrial Property Sector.
Miller Commercial Chartered Surveyors have just sold a terrace of units on the St Columb Industrial Estate to a group of private investors from a guide price of £575,000.
The deal, which was negotiated by Will Attlee of the company’s Investment team saw the purchase of a terrace of 4 units (2,590 sq. ft. to 3,668 sq. ft. ) on the estate, which is close to the A30, Newquay Airport and home to some of the county’s best known businesses such as Anne’s Cottage, St Austell Brewery, and Pall Filter Manufacturers and Suppliers.
Will says “The industrial sector has performed well in Cornwall over the past 8 years and as such we are experiencing strong demand for this type of investment.”
The units which make up the St Columb portfolio are also managed by Miller Commercial.
Nick Maffey who’s Head of Miller Commercial’s Property Management Department says: “The units currently generate a rental income of circa £44,000 per year with a good mix of occupiers but there is room for significant rental growth.
We’ve been managing this site for more than 6 years and are delighted to be retained by the new clients. We look forward to improving on their investment through careful asset management over the coming years.”
