Spey House, Mandale Park, Belmont Industrial Estate, Durham DH1 1TH
Download the Sales Brochure Make an enquiryNorthCap has successfully sold an industrial estate in Durham on behalf of the Mandale Group.
The property comprises a newly constructed estate providing 17,050 sq ft of high quality flexible space split over 11 units, alongside associated yardage and parking.
The property was fully let providing a total rent roll of £176,000 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 8.04 years (3.72 years to break).
The property was sold for £2,465,000 reflecting a net initial yield of 6.71%.
The purchaser was a private investor represented by David Dresler.
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