Leading property company acquires two Yorkshire industrial estates for £6.81m
September 25th, 2019
CPP advises on the acquisition of two multi let industrial estates
National property consultancy Commercial Property Partners LLP (CPP) has secured Hillfoot Industrial Estate in Sheffield and Armthorpe Enterprise in Doncaster, on behalf of Stenprop – a listed property company.
The deal involved the purchase of two industrial estates comprising of 68 industrial units and totalling approximately 78,000 sq ft.
The purchase of these estates represents a wider strategy by Stenprop who continue to expand their portfolio through the take up of multi-let industrial estates across the UK.
Richard Wright, Partner at CPP, said: “We are delighted to have represented Strenprop in the acquisition of these two prominent estates in Sheffield and Doncaster. The assets provide two high quality reversionary estates in core industrial locations, there are immediate opportunities to add further value through active asset management and capital expenditure initiatives.”
Julian Carey, Executive Property Director at Strenprop, added: “These properties are all purpose-built multi-let industrial sites, 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.”