Redlake & Ottery House,
Mandale Trade Park, Durham DH1 1FQ
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£3,400,000
Dec 2021
NorthCap has successfully sold an industrial estate in Durham on behalf of the Mandale Group.
The property comprises an estate of multi-let industrial units arranged as two parades, alongside associated yardage and parking. The property currently generates a headline rent of £176,000 per annum from eleven tenants. The rent on the vacant units was topped up to £208,000 per annum.
The property was sold for £3,400,000 reflecting a net initial yield of 5.75%.
The purchaser was Industrials REIT.
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