National Investments have exchanged on “The Industrial Collection”, the sale of a 280,000 sq ft industrial portfolio of 10 estates across Central London.
Acting on behalf of Workspace, the portfolio contained 170 units with 136 tenants. The portfolio had an extremely low vacancy rate with rents ranging from £5 psf to £17 psf.
Seeking offers in excess of £35.35 million, the team achieved an incredible £44.3 million which was 25% over asking and over 35% above Workspace’s valuation. The yield reflects 5.3% or 4.9% on a triple net basis.
The portfolio has been purchased by Capital Industrial.
Scott Tyler comments “This is a benchmark deal for the Investment market and has rewritten the rule book for industrial yields in London. To enter the market in mid-September, receive 8 written proposals, and exchange before the end of September is a huge effort by the team. Thanks to Guy Scott Plummer and Richard Lea for all the late nights prepping during the summer”.
Notes to editor
Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.
To arrange an interview or for the supply high resolution images or further information please contact May Kan
020 7543 6777