Acting on behalf of Bishopsgate, part of the Master Removers Group (MRG), Colliers International’s National Capital Markets team has completed the sale and leaseback of Unit 1, Interface Business Park, Royal Wootton Bassett, Swindon, to Keills Property for £4 million. The sale reflects a net initial yield of 5.7 per cent.
The modern industrial warehouse, which totals 51,580 sq ft, was built in the early 1990s and comprises a two bay distribution warehouse facility with ancillary office accommodation set over two floors. It also benefits from four dock level and two level access loading doors, as well as a self-contained secure service yard with a depth of 39 metres.
Interface Business Park, located close to Junction 16 of the M4 motorway, is a prime regional distribution location. Local occupiers include DPD, David Hathaway, Plantronics and Dolby.
Jonathan O’Conor, of Colliers International, commented: “Since the beginning of 2017, we’ve seen an increase in warehouse investment throughout the country as investors take advantage of the on-going demand for quality industrial space.
“Interface Business Park in Wootton Bassett lies just two miles from the M4 motorway, providing excellent transport links to nearby Swindon and Bristol and also to London, 85 miles to the east. Such qualities make it an ideal hub for Bishopsgate to operate from.”
Charles Rickards, Director of MRG, added: “Having used Colliers previously to dispose of a similar sized unit in Park Royal, London in January 2016, they have continued to demonstrate their expertise in the real estate sector.”
Alan Howie at Keills said: “This is an excellent deal, which is expected to deliver low risk indexed returns to KPT which is exactly what our client pension funds are seeking in these uncertain times.”
Colliers acted on behalf of Bishopsgate. Tudor Toone acted for the purchaser; Keills Property.