Two newly built industrial units next to Doncaster Sheffield Airport have been acquired by a private property company in a £3.125 million deal negotiated by the Leeds office of property consultancy, Gent Visick (GV).
GV has negotiated the acquisition of units 1 and 3, which measure 13,654 sq ft and 18,193 sq ft respectively. The deal reflects a net initial yield of 5.98 per cent. Kestrel Court has been developed by Yorkshire company, Marshall CDP.
The development completed at the end of last year and consists of three warehouse units complete with fitted office accommodation, securely fenced service yards and car parking.
Unit 1 is let to NCM Auctions, recently recognised as one of Europe’s fastest growing companies after being ranked number 336 in the Financial Times 1000, whilst unit 3 is let on a 10-year lease to Dual Inventive Limited. The company develops and produces technology products that make working on railway infrastructure safer and more efficient.
Daniel Walker, from GV, said: “There is no shortage of investor appetite for high specification industrial units in sought after locations that are let to robust tenants. Kestrel Court sits right next to one of the UK’s fastest growing airports and is less than 10-minutes from the M18, which ticked every box for our client, and we’re delighted to complete this acquisition.”
Nick Wales, from Knight Frank in Sheffield, added: “Kestrel Court offers high quality, secure and accessible industrial accommodation in an area where demand is outstripping supply. We were able to generate a significant amount of interest in this scheme and agreeing this sale is a great result for our client Marshall CDP.”