Glenbrook Investments has completed the £4.65m acquisition of an industrial estate in Barnsley.
Fall Bank Industrial Estate in Dodworth comprises eight warehouses totalling 97,761 sq ft and is currently fully let. It is located less than two miles west of Junction 37 of the M1 motorway.
The transaction reflects a 7.5 per cent net initial yield with rents averaging £3.75 psf.
Solomon Halpern, investment analyst at Glenbrook, said: “We are pleased to widen the scope of our portfolio with the acquisition of this industrial asset in Yorkshire. Fall Bank Industrial Estate provides a solid return and presents an opportunity to add value through refurbishment and improved site configuration.
“We look forward to delivering a more efficient and well improved multi-let industrial estate as we seek to maximise its income potential.”
Metis Real Estate and CMS acted for Glenbrook. The site was purchased off-market from a private vendor.
Glenbrook Investments recently completed the purchase 5-6 Commercial Street, occupied by Watches of Switzerland, in Leeds city centre from Legal & General, in an off-market deal for a price of £1.74m.
It has also recently completed the refurbishment of St Albions, a converted former Church Institute in Leeds creating 31,400 sq ft of leisure, retail and office space in the city centre.