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."
