Manufacturing Site Acquired for £6.5M : Highcroft Investments has acquired a 111,000 sq ft maintenance, research and development facility in Llantrisant for £6.5 million. The firm bought the 984-year leasehold for the site, currently occupied by British Airways Avionics Engineering, from Rockfleet Holdco 1 Sarl.
A complex of three buildings is part of the property, which provides a mixture of office and workshop space, together with a development site, on a 20.67 acre site. The current occupier’s lease runs until 2024 and produces an income of £805,011 per annum. The acquisition was made from existing cash reserves and debt facilities.
“This investment provides a strong income yield for our shareholders plus the opportunity of further enhancement in the future when considering the passing rent and capital value at just £7.25 and less than £60 per square foot respectively,” said Chief executive at Highcroft Investments Simon Gill.
“This is a very accessible location which has attracted major occupiers such as the Royal Mint, the Welsh Blood Service and the Royal Glamorgan Hospital, which are on neighbouring sites, and we expect this area to witness further growth,” Simon added.
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