Posted by Greg Callard, Partner
Industrial estate acquired for private buyers in just four weeks
The commercial property team at Royds Withy King and agents Kavanaghs worked together to ensure the successful acquisition of an industrial estate in Berkshire for private buyers, just four weeks after agreeing terms.
The Commercial Property team at Royds Withy King and agents Kavanaghs worked together to ensure the successful acquisition of an industrial estate in Berkshire for private buyers, just four weeks after agreeing terms.
The firms managed the purchase of Brickfields Industrial Estate in Bracknell which is made up of 17 units and an enclosed yard, on behalf of family investment company, Campmoss Property Limited. The property, which was marketed at an asking price of £3,825,000, produces an income of £283,436 per annum, showing a net yield of 7%.
Royds Withy King undertook the due diligence on the estate. Greg Callard, a senior associate in the team, said: “There were many challenges as you would expect from such a tight timeframe and a complex site, but we are delighted to have got it over the line to meet our client’s requirements. They are very happy with their latest acquisition and we look forward to working with them again in the future.”
Stephen Brickell, commercial property manager at Kavanaghs, continued: “We are pleased to have concluded the purchase below the guide price which shows a handsome return on investment for our client. Our client was in the enviable position of having surplus investment funds and asked us to seek out and identify suitable investment opportunities for them along the M4 corridor which were high yielding and offering asset management opportunities. We carried out an inspection and full investment appraisal and valuation and with the help of excellent expert legal advice from Royds Withy King.”
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