Addington Capital, in partnership with EPISO3, an opportunity fund advised by Tristan Capital Partners, has sold the Bradbury Works, Braintree to Locksbridge Developments (Braintree) Limited for £6.195 Million.
The freehold industrial development site extends to just under 9 acres and has planning permission for 196,000 sq ft of new B2/B8 accommodation.
Avison Young advised Addington.
Steven Vaughan of Addington commented “ We are pleased with the sale. We were marketing the site at offers of over £6 million, and the price achieved is evidence of the continuing strength of the industrial & warehousing market. There is strong demand from local occupiers but little supply of new quality industrial units in the area giving good prospects for rental & capital value growth.”
The site was acquired by Addington and EPIS03 in 2014, as part of the Tree portfolio.
