Yorkshire and North East industrial units acquired in £16.7m 100-property deal

Three Yorkshire units and one North East property have been acquired as part of a 100-acquisition £16.7m deal by a national multi-let firm.

Industrial property company Stenprop has completed the acquisition of 100 industrial units in five separate transactions across the UK for an aggregate price of £16.7m.

Sheffield’s Hillfoot Industrial Estate and a unit at Holbrook Enterprise Park, Armthorpe Enterprise Centre in Doncaster and Middlesbrough’s Trident Business Centre have all been acquired by Stenprop.

The Hillfoot, Armthorpe and Trident estates were acquired as a portfolio from Westbrook Partners for £10.2m, comprising a total of 81 units spanning 137,695 sq ft.

Unit 5 at Holbrook Enterprise Park was acquired for just under £202k, reflecting a net initial yield of 7.65 per cent.

Julian Carey, Stenprop’s executive property director, commented: “These properties are all purpose-built multi-let industrial, which meet our acquisition criteria in terms of location and returns.

“We look forward to rolling out our Industrials operating platform on these estates. We have a number of other similar acquisitions under review, which we hope to complete in the coming months.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.