An industrial unit for car parts in the South-West has been acquired by commercial property consultancy Vail Williams LLP on behalf of a property investment company.
Wildbrook Investments bought 11,127 sq ft unit 4 at Gazelle Road, Lynx Trading Estate, Yeovil, Somerset, for £887,500 freehold. Net yield was 7%.
Westbrook Acquisitions LLC, an investment management firm, sold the property, which is let to Euro Car Parts at £66,000 per annum until July 2022 and equivalent to £5.93 per sq ft.
Euro Car Parts is the UK’s leading distributor of parts for all makes of cars and light commercial vehicles, occupying more than of 5.25 million sq ft of warehouse storage so that 130,000-plus different part numbers can be stocked.
Russell Miller operates out of Southampton and is a partner at Vail Williams, which advises Wildbrook, based in Poundbury, near Dorchester.
He said: “This is the third significant investment transaction for Wildbrook to date this year. We disposed of two properties for the client in Havant and Andover in Hampshire and acquired Yeovil for £887,500.”
Vail Williams sold units 1-7 Beaver Industrial Estate and 28 Southmoor Lane in Havant, near Portsmouth, for £1,105,000 leasehold to a private company pension fund based in Chichester, West Sussex. As a multi-let investment, the net rental income per annum was £114,528.
In an off-market deal, Vail Williams disposed of 14,273 sq ft units A and B, Rennie Gate, Andover, for £750,000 to the same pension fund. Yield was 8.52%.
Russell said: “This is a multi-let, industrial investment in an established commercial location, with a net income of £67,350 per annum and a capital value of £53 per sq ft.”
Occupiers are Andolite, which manufactures products for the installation of lighting and sound systems in entertainment venues, and electronics manufacturer Custom Interconnect.
