DTZ Investors increases regional industrial exposure
DTZ Investors has successfully acquired the freehold interest in Wheatley Hall Trade Park, Doncaster for £6.63m, reflecting a 6.4% net initial yield.
The estate benefits from frontage onto Wheatley Hall Road, the main arterial route linking Doncaster to the M18. Extending to 49,000 sq ft, the asset is fully let to 12 tenants at a low average passing rent of £9.20 per sq ft. Tenants include Bathstore, Topps Tiles and Edmundson Electrical, and the property is subject to an average weighted unexpired lease term of 4.9 years to expiries.
The acquisition serves to increase the Client’s exposure to the industrial sector, in a location offering limited trade counter supply.
Gerald Eve acted on behalf of DTZ Investors.