A GLOBAL real estate adviser has helped a company buy three units in Molly Millars
Lane.
Colliers International advised Marchmont Investment Management over its £2.42 million purchase of Units 2-4 at Molly Millar’s Bridge, off the busy industrial site on the outskirts of Wokingham town centre.
Colliers said that the sale represents a Net Initial Yield of 6.3%.
The property is a terrace of three 1980’s-built industrial units, with a gross internal floor area close to 22,000 sq ft and currently multi-let to three tenants: Hempel Special Metals Ltd, Intersurgical Ltd and ATM Machine Tools Ltd.
Cameron Fraser, from Marchmont Investment Management, said; “The opportunity to purchase an asset at Molly Millars Lane represented a fantastic opportunity to expand our presence in the South East industrial market which is demonstrating strong underlying fundamentals, such as continued rental growth, shortage of supply, limited development but strong tenant demand.”
Colliers International represented the purchaser, Marchmont Investment Management. The private vendor was represented by Knight Frank.