Dominvs Group, the real estate investment, development and asset management company, has acquired two industrial investments as part of the planned expansion of its UK portfolio.
In Southampton, Dominvs Group has purchased the Trinity Industrial Estate in Millbrook Road West. Totalling over 24,000 sq ft, tenants at the nine unit multi-let industrial scheme include Euro Car Parts, Hyphose and Rexel UK. The deal represents and initial yield of 7.8%. Goadsby represented the vendor and GVA the purchaser.
Ian Mudge, Commercial Property Director said “We are delighted to have acquired the estate and had some tough competition, but this is our ideal type of acquisition. It allows us to add value through increasing occupancy and implement numerous asset management strategies. With a solid tenant base to start from and amazing frontage one to one of the main roads in to Southampton, we are expecting good things.”
Dominvs Group has also acquired Unit 4, Gazelle Road, Lynx Trading Estate in Yeovil, Somerset. The 11,000 sq ft industrial/warehouse property is a standalone property with a good sized, secure yard. It is currently let to Euro Car Parts and the investment was purchased for an initial yield of 9%. The vendor was represented by Fineman Ross LLP and the purchaser represented themselves.
Ian Mudge said “We are pleased to have secured this property in a quick off market transaction. It is a solid investment and another example of Dominvs Group being able to offer a good price and an extremely quick transaction. We plan to continue in 2017 with similar types of transactions across the UK.”
