On behalf of Industrials UK LP, Ryden has purchased Redbrook Business Park in Barnsley for £5.8m, reflecting a net initial yield of 7.85%. The seller was Adhold Ltd and Mileguide Ltd with CBGA Robson and AWS acting on their behalf.
The 17,102 sq m (184,092 sq ft) multi-let industrial and office estate provides units ranging between 47 sq m (506 sq ft) to 1,558 sq m (16,770 sq ft). Tenants include Thermal Windows, Midcam Engineering, Open College of the Arts and Minova Weldgrip Ltd. The current passing rent is £481,900 per annum.
The Business Park is on the site of the former Redbrook Colliery and is well located approximately 1 mile north of Barnsley town centre. It covers a 7.35 hectare (18.15 acres) site.
Regional Managing Partner at Ryden, Matthew Edwards noted that the acquisition demonstrates "the continued attractiveness of industrial property and builds on other recent acquisitions on behalf of Industrials in the region."
Kevin Surplice from AWS commented “this sale demonstrates the continued confidence of investors in the industrial sector where medium term growth prospects are good.”