Bidwells Capital Markets team has sold the freehold for a 16.44-acre town centre industrial investment with development land in Stowmarket for £9.075 million.
Bidwells acted for the vendor, Beachshow Ltd, in the sale to Threadneedle UK Property Authorised Investment Fund.
The investment comprises an extensively refurbished single-let 192,003 sq ft production and warehouse facility in Gipping Lane, fully let to Bosch Lawn & Garden Ltd on a 9.8-year unexpired lease. The sale also includes 7.36 acres of additional development land with partial A1 outline planning consent.
The sale reflects a net initial yield of 8% on the income and a capital value of £1.875m for the development land.
Five Bidwells teams have now provided professional services to its client. Its multidisciplinary service enabled Bidwells to first value the facility, then negotiate a Schedule of Condition to assist with agreeing a new lease, before offering planning advice for alternative uses for the site ahead of the sale.