The investment is fully let to 5 tenants producing a rent of £310,318 p.a. The estate extends to 67,816 sq ft with a mix of unit sizes and low site coverage of only 33%.
Will Sandwell, Commercial Investment Partner commented:
The industrial sector remains the best performing area of the UK market, investor demand has increased over the last 24 months, proving resilience and diversification is attractive to investors even in the changing landscape of a Covid 2020 market. This asset has 93% of its income secured against 3 strong tenants, South Ayrshire Council, William Wilson and Jewson. As prime industrial yields sit at 5.00 to 5.50% this asset offers a healthy income return with a weighted term certain income of approximately 7.40 years.
We are seeking offers in excess of £4.161m reflecting a net initial yield of 7.00% and a low attractive capital rate of £61.37 per sq ft.
Link to website listing: