December 22, 2015
Palmer Capital is pleased to announce the acquisition of Arden Business Park for £4.25M with a yield of 7%. The park is located on Arden Road, 9km from Birmingham city centre.
The investment comprises 54,210 sq. ft. of modern industrial accommodation arranged over 5 units on a 3.88 acre site with 126 car parking spaces. Arden Business Park is situated in a mixed commercial and residential area and benefits from the neighbouring Longbridge regeneration project which comprises over 498 acres and includes a variety of commercial and residential.
The business park offers a strong income return and is leased to tenants including Blaze Neon and Strip Tinning with an average lease length of 7.5 years to first lease break and a current income of £335,075 per annum.
Palmer Capital was advised by GVA.
The deal was funded by the Palmer GVA Property Fund.