Units -10 The Acre Estate, Wates Way, Wildmere Industrial Estate, Banbury, OX16 3ES
Acting on behalf of CBRE GI, Franck-Steier Price has concluded the sale of this multi let industrial estate investment on the established Wildmere Industrial Estate in Banbury. The scheme lies just off Junction 11 of the M40.
The estate totalled 51,664 sqft in a terrace of six units. The estate was fully let to three tenants on five leases. The total passing rent, including rental top ups was £296,250 per annum. Rents ranged from £5.29 – £6.23 per sqft.
There was strong competition for the estate from a number of funds and property companies.
The purchaser was a Columbus Capital, who paid a price of £3,330,000, reflecting a net initial yield of 8.4%. Buchanan Bond acted for the purchaser.