Units 415-428 Oakshott Place, Preston PR5 8AT
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£7,630,000
Jan 2025
NorthCap have successfully acquired a multi-let industrial/trade estate on behalf of Columbia Threadneedle.
The property comprises 76,185 sq ft across 14 well specified units, let to 10 tenants providing a low passing rent of £485,382 pa. (£6.37 overall).
The property offered excellent reversion potential with a projected ERV of £644,000 pa.
The purchase price was £7,630,000, which reflects an initial yield of 5.96% a reversionary yield of 8.5%+ and a low capital value of £100 psf.
The vendor, CBREGI, was represented by John Burrows at B8 Real Estate.