On behalf of a retained client, BB&J Commercial have successfully completed the disposal of the investment of 7-9 Centurion Way to a local property investor after going to ‘best and final’ bids due to the amount of interest gained.
The investment offered a terrace of three modern industrial units with two being let to Euro Car Parts Limited and the remaining unit let to Prime Automotive Limited. Euro Car Parts, who trade as Andrew Page, are the UK’s largest distributor of vehicle parts with over 200 branches nationwide and a Net Worth of £316.1m (as at December 2016 trading figures).
Graham Bancroft said “As we anticipated, the investment was extremely popular when we brought it to the market with significant interest being received straight away from both local and national investors. After discussions with our client, the idea of going to ‘best and final’ bids seemed the obvious route to go down in order to bring the matter to a head and in doing so we were able to agree a deal our client was extremely pleased with. The sale represented an investment yield of 7% after purchasers’ costs which is very healthy in this market”.
“Investment properties such as this continue to be sought after with numerous parties still in the market for similar opportunities. We also have various other investments on the market at present in numerous different sectors, all of which are generating considerable interest at extremely strong levels”.
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