Telereal Trillium buys industrial trio

By Paul Norman - Thursday, December 07, 2017 15:05

Telereal Trillium has bought three industrial assets for a total of £12.82m at a blended yield of 7.45%.

It has bought: 

• West Point, Cardiff comprising an estate of nine modern light industrial/trade counter units situated on Penarth Road, a main arterial route into the city centre. The seller was advised by CBRE and Telereal Trillium by Cooke & Arkwright.

• Chancel Close Industrial Estate in Gloucester is an industrial estate built in three terraced blocks fronting Eastern Avenue,. Knight Frank advised the vendors, whilst CBRE advised Telereal Trillium.

• Eland Road, Denaby Industrial Estate, Doncaster is a single let manufacturing unit let to Clytha Holdings Ltd (with guarantee from Senior Architectural Systems Ltd) for another 14 years. The building is the tenants’ HQ and its key facility in the UK. CPP advised the vendors, whilst Strutt & Parker advised Telereal Trillium.

Telereal Trillium has also disposed of Saxon Park, Milton Keynes a multi-let industrial estate, to an institutional investor. Having acquired the asset in October 2016, Telereal Trillium completed its asset management strategy to increase the "rental tone and profile of the Estate before deciding to capitalise on the demand for well-located and high quality industrial assets".

Paul Munday at Telereal Trillium said: “We are pleased to acquire these investments, which supplement our existing portfolio. Our preference is to continue to invest in industrial assets, which offer strong potential for rental growth and opportunities to enhance values going forward. This has been increasingly difficult in a strong industrial market, but we remain active investors in the sector when we can find value. We have also shown, through our sale of Saxon Park, Milton Keynes, that we are prepared to exit opportunistically upon implementing an asset management strategy.”

pnorman@costar.co.uk

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