Nimbus Park & 10/10a Foster Avenue, Dunstable, LU5 5WZ
FSP has recently completed the sale of a prime multi-let industrial estate and distribution unit on behalf of Pears Property.
The properties are located within the established industrial area of Woodside Estate, Dunstable. Nimbus Park is a modern 8 unit industrial estate totalling 139,103 sq.ft and 10/10a Foster Avenue is a modern semi-detached unit of 18,639 sq.ft.
The properties are fully let producing a total income of £1,133,484 per annum with a WAULT to breaks of 4.96 years and 7.54 years to expiries.
The properties were sold for £27,950,000 which reflected a net initial yield of 3.80%. Stonehill Partners represented the purchaser, Orchard Street.
Ben Blackwall, Director at FSP comments ‘The sale was hotly contested with over 10 offers received highlighting the demand for prime multi-let industrial investments. The sale price exceeded the original asking price by 32% securing a fantastic result for Pears Property.’