THE Galbraith Investment Team has advised Shed5 Ltd on the acquisition of Carntyne Industrial Estate. The multi-let industrial estate was purchased off-market for £3.25 million, reflecting a net initial yield of 8.59% and a capital rate of £32.50 per sq ft.
Carntyne Industrial Estate, located in Glasgow, provides good accessibility to the city centre and M8 and M74 motorway network. The estate extends to approximately 100,000 sq ft and comprises 17 units of varying sizes ranging from 1,000 – 10,000 sq ft. The passing rent is currently £297,000 p.a. (£2.97 per sq ft) and a WAULT of 1.25 years.
Jamie Addison-Scott of Galbraith commented:
“This acquisition meets our client’s investment criteria. We were able to act decisively in this off-market acquisition and Shed5 look forward to working with tenants in carrying out their asset management strategy.”
Galbraith and Thorntons advised Shed5 Ltd.
