Greta House, Mandale Park DH1, Belmont Industrial Estate, DH1 1TH
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£2,600,000
Jul 2023
NorthCap has successfully sold an industrial estate in Durham on behalf of the Mandale Group.
The property comprises a newly constructed estate providing 23,585 sq ft of high quality flexible space split into 3 units, alongside associated yardage and parking.
The property was fully let providing a total rent roll of £165,095 per annum, with 100% of the rent roll benefitting from reviews to the higher of OMRR or uncapped RPI.
The Freehold estate had a WAULT of 9.64 years (4.75 years to break).
The property was sold for £2,600,000 reflecting a net initial yield of 6.00%.
The purchaser was a private investor.
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