College Farm Industrial Estate, Faulkner Lane, Sandown, Isle of Wight, PO36 9AZ
Acting on behalf of Hansteen, Franck-Steier Price has concluded the sale of this starter unit industrial estate investment.
The estate totalled 9,887 sqft in nine units. 8 units on the estate were let to six tenants, one unit of 995 sqft was vacant. The total passing rent was £61,000 per annum.
The purchaser was a private property company, who paid a price of £620,000, reflecting a net initial yield of 9.3%. Hughes Ellard acted for the purchaser.