Acting on behalf of a London-based property company, Midlands-based agency Phillips Sutton Associates has advised on the acquisition of a 33,000 sq ft single let industrial warehouse investment.
The unit, at Brunel Business Park, Aylesbury, has been bought for £2m and is let to ATG Training on a lease expiring in 2023 at a rent of £195,000 per annum. The deal reflects a yield of 9.22 percent.
The vendor was advised by BNP Paribas Real Estate.
Sam Sutton of Phillips Sutton Associates said: “This deal shows just how it pays to keep close to your clients and their requirements.
“I knew that the London office of BNP Paribas were acting for the vendors. Therefore, I introduced the property to my clients, as I was aware that they were looking for a further investment and they already own a property in Aylesbury.
“The deal was an incredibly smooth one. My clients were so impressed with the unit that they bought it on an unconditional basis and completed the deal within a six-week timeframe. It’s a great outcome for all parties involved.”
Sam added: “There remains a lack of available stock in this size range. The unit on Brunel Business Park is modern and well specified and this went a long way to ensure that it was let off a rent that offers growth potential.”
ATG Training was founded as Aylesbury Industrial Training Group in 1967 by a consortium of engineering companies as a Group Training Association through which to train engineering apprentices across Buckinghamshire. As the company evolved, it became a registered charity and broadened its base of activities to include a wide range of vocational training activities.
Today ATG Training is a large independent training provider with specialised training centres in Aylesbury, London and Stafford.
