Dukes Park in Harlow completes for £14,055,000
DTZ Investors has completed the acquisition of Dukes Park in Harlow for £14,055,000, representing a net initial yield of 4.1%. Savills represented DTZ Investors.
The property comprises a trade counter and industrial estate of nine units extending to a total floor area of approximately 62,419 sq ft. The overall site extends to approximately 4.1 acres. The property is fully let providing rental income of £617,205 per annum.
Tenants on the estate include Toolstation, Halfords, City Plumbing Supplies, Tile Giant and Benchmarx Kitchens.
Tom Royston, Associate Director at DTZ Investors, comments: “We are delighted to complete the acquisition of Dukes Park in Harlow which is well aligned with the fund’s investment strategy. The property provides a very attractive tenant line up, sustainable income and excellent future growth prospects.”
Charlie Foster, Director in the Industrial Investment team at Savills, adds: “The market for modern South East and Greater London industrial trade parks is incredibly competitive, so we are thrilled to have secured Dukes Park for our client. The extremely favourable occupational market dynamics in Harlow should ensure a robust investment performance for the fund.”
ACRE represented the vendor, CBRE Global Investors.
Contact Tom Royston for more information.