Multi-let industrial estates acquired for Industrials REIT
26 April 2022
Acting on behalf of Industrials REIT, Ryden has advised on the successful acquisition of Astra Park in Leeds, one of four multi-let industrial estates in Yorkshire acquired by Industrials REIT. The new assets total 260,000 sq ft and are 100% occupied. The purchase price for all four was £20.86 million reflecting a net initial yield of 5.7%.
Ryden has worked with Industrials REIT, formerly Stenprop, for many years assisting them to achieve their objective of building up a portfolio of multi-let industrial property let off low passing rents and located in densely populated areas.
Dan Hodge, Associate at Ryden, commented on the transaction:
"This is a fantastic result for Industrials REIT. Astra Park will be a great asset for them in the Leeds market. I was delighted to be able to act on their behalf in the acquisition of such a prominent multi-let industrial estate with excellent future potential."
