Hunstanton Commercial Park, Hunstanton, PE36 5JQ
Acting on behalf of a Hansteen Industrial Estates Ltd, Franck-Steier Price has recently concluded the sale of a modern, seven unit industrial starter estate investment in North West Norfolk.
The Hunstanton esate comprises two terraces of three starter unit and a larger detached unit to the rear. Overall the estate extended to 607 sq.m (6,534 sq.ft).
The property was let to five tenants producing an overall rent of £48,680 per annum. One 753 sqft unit was vacant at the point of sale. Tenants included the Maritime & Coastguard Agency and Redgate Bakery.
The purchaser was a private investor, who paid a price of £575,000 reflecting a net initial yield of 8%.