We are delighted to have advised Kildrummy (Cramlington) Ltd on the acquisition of South Nelson Industrial Estate, Cramlington, a freehold multi-let industrial investment.
The property, which totals 31,762 sq.ft, comprises 10 units ranging in size from 2,118 sq.ft. to 5,143 sq.ft and produces a current income of £109,200 pax with 1 vacant unit and highly reversionary rents.
A price of circa £1.5 million was paid reflecting a capital value of £50.09 per sq.ft.
The estate offer the opportunity, through active management and investment, to increase both rents and capital values. Naylors Gavin Black represented the vendor.
