Marnshaw Limited have acquired the Bridge Trading Estate, Bury, from the Canal and River Trust for a headline consideration of £2,201,000.
Bridge Trading Estate is a multi-let industrial property with a rental income of £156,000 but with the potential to increase the income up to £231,000. The transaction represents a net initial yield of 6.70% but with a reversionary yield of around 10%.
Simon Cook, Director of Roger Hannah, said
“The acquisition of Bridge Trading Estate represents an excellent acquisition for Marnshaw Limited giving them the prospect to maximise the potential of the investment and to hopefully increase the yield to a figure in excess of 10%. This is a real asset management opportunity. Roger Hannah will be managing the investment so it is a great opportunity for us to stay involved in the project.”
Sanderson Weatherall acted for the Canal and River Trust in the transaction.